Originally Posted by
Led Zep
If anything I think government intervention will make the situation worse. This is a very slippery slope that a lot of people are talking about - that being quasi-socialization with the government stepping in. This recovery is going to be painful for a little while, but I'm optimistic we are going to recover. I would rather take it in the shorts a little longer but with help coming from the private sector and not the public.
I don’t think many of us like the idea of a Federal takeover of so many financial assets (“socialism”), but a close examination of historical financial crises (which Treasury Secretary Paulson is an expert in) shows that as disagreeable as this bailout may be, to do nothing, which is already paralyzing the access to short-term credit upon which our economy depends, is certainly going to make matters worse, and we will miss an opportunity to avert a worse disaster. The key is to draft a plan which puts the taxpayer at minimal risk, and at maximum potential to reap profits should the threatened securities ultimately regain much of their former value