My dear Saint:
Let's look at a few facts logically. First of all, I do not like the bailouts. I thought let them all go bankrupt, thats what those laws are for. However, the more I think about them, I'm not sure.
It is for greater minds than ours to determine if there were alternatives to the bailouts. I think the republicans are opposing it for political reasons. Why would the democrats bail out the banks? I mean its not like the banks, bankers and their employees are left leaning liberals likely to vote democratic?
Same with AIG and Bear Stearns. Insurance company and investment house are big time republican supporters. I think their respective failures would have such far reaching systemic effects that could have caused total melt down of our economic system. They had to be bailed out. No private buyers.
We are back at the root cause of the problem, which, in my opinion, is that we don't make anything anymore and we are living on borrowed time. I don't think Obama or anyone else for that matter will be able to save this country as long as people work for $1 a day in Asia or Africa and we have a population of 300 million dependant on a service based economy.
Answer: benevolent dictatorship (Eddie in charge) with sunshine everyday and everyone beautiful and prancing in fields or total authoritarian rule (Wayne or Dr. Freeze in charge) with everyone chained together in tatered clothes, wandering aimlessly, with volcanic fire spewing ash with red cloudy skies overhead.
Eddie
