“I would like to see a better argument both for and against the bailout package.”
Well, I would too, urbanrealtor. I don’t know if my reasoning has fatal flaws that would be obvious to an expert in banking or economics.
What’s bothering me about the “we have no choice” line is that no one is even trying to work through the controlled liquidation alternative and explain its flaws. And it just happens that the “only possible solution” to an economic catastrophe rewards certain groups of people who have enormous political influence, and have done everything in their power to enjoy fruits without the labor. I am referring to most homeowners, stockholders, and the large professional community that caters to them (like politicians, banks, brokers etc). Could they be blinded by their self-interest? Hmmm…
