09-16-2009, 01:52 PM
Doc wrote:
[quote=mattkime]
the confounded bailout is why the economy is doing as well as it is.
So far as I can tell, the bank bailout accomplished nothing for the general public except grant a week or two where people were confused enough to think that it was supposed to help them and didn't riot in the streets. A bailout 10-times smaller would probably have done the same job.
Other stuff like extending unemployment benefits, Cash for Clunkers and Making Home Affordable have been more helpful and are likely to produce greater public benefits throughout the recession and recovery.
You can't keep the banking system from collapsing by giving someone $4500 for their old car. You are touting putting a couple of fingers in the dyke even as it is being washed away.