Friday, October 3, 2008

Is this the best of all possible worlds?

If/when this financial bailout gets enacted and the economy doesn't go into a severe depression and we started hearing from pundits, "Well, if we hadn't enacted the bailout it could have been much worse", you can also say it could have been much better. There are alternatives (that I'm not fit to really evaluate) such as bank nationalization and WaMu style speed-bankruptcies coupled with private money.

Update: I'm embarrassed that I wrote about bank nationalization and "WaMu style speed-bankrupticies" when I clearly don't understand those things. I have run a cheese grater down my face as penance.

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