Congress is arguing over a bail-out. There’s much blaming going on. They’ll be time for that later; right now it is imperative to act as rapidly as prudently possible.
Congress already did a poor job of providing oversight for Wall Street and bank dealings. The only thing they could do to make things worse is to implement the wrong solution or act too slowly. They seem very capable in their partisan bickering of doing that.
I have a degree in economics. Here’s my take: a taxpayer funded bailout will be painful, but not as painful as a global economic meltdown that does infinitely greater damage to everyone’s financial situation.
Personally, I think we were so close to the edge of economic freefall that it was frightening. Furthermore, I don’t think we’re that far back from the edge now.
It is time for our national leadership to stop acting like whiney children pointing fingers and come up with a solution that will prevent further pain and suffering.