So, I am not really sure what to think of the bailout failing. I have been back and forth about this since it started. However I am pretty sure I know the following is true,
- It was mis-marketed to tax payers (if you call it a bailout then people will automatically say fuck no). It was really just a poor investment and potentially a costly one.
- 700 Billion wasn’t based on anything other than Paulson’s gut. It could have been much much more think trillions.
- Partial economic collapse is probably needed to stabilize the system. How it will effect the avg person is yet to be determined but more than likely it means good-bye to any 401 k value and a significant increase in un-employment.