The folks up in D.C. want us to think that their big bailout is going to save the economy from crashing. Frank Shostak argues on the other hand that all the bailout can accomplish is to further weaken wealth producers, making matters worse and setting the stage for worse things in the future. You can read his piece here.
Remember that at the beginning of the Depression, (before it turned into the Great Depression), Andrew Mellon urged inactivity — let the bad investments fail. Herbert Hoover ignored him. In trying to prop up the economy, he set in motion the disastrous chain of events that created the Great Depression and stuck the nation with FDR and the New Deal. The latter is still a millstone around our necks.
