The alternative for not getting the banks out of this trouble is absolutely dire. Again, I am not saying tax payers should foot the bill.. but time is ticking.. someone needs to step up and fix the credit markets or the events following will make depression era feel like a day at disneyland. I for one am not willing to witness it, live through it... but at the same time I have no power to change anything.
i think they should take all the subprime homes off the books ,those people have at least paid taxes without millions in writeoffs and will partially repay the governmennt thru taxation,let all the dumb bastards that made crooked deals or were greeedy enough to be taken .go down,free up the credit for legitimate business growth and get rid of all the deadwood. Problem is that very little of this has anything to do with subprime.A lot of wealthy foreign investors were scammed and if we don't cover for the criminals who scammed them,then these same foriegn investors will be less likely to ever trust U>S> investment for a long time. and possibly sell the bonds that are still of any value,which they likely will do after the bailout anyway,,either way,the country is doomed for the next several years without being able to borrow foreign money for growth