The View From 1776

Thought For The Day -  September 25, 2008

Whether the proposed $700 billion bail-out for holders of troubled loans is a good thing is almost impossible for those of us in the general public to assess.  We do not have all the information available to the Treasury and to the Fed.

A large portion of the public, however, condemn the bail-out on the grounds that we should let the financial markets collapse to punish the Wall Street titans who created the mess.

That’s rather like damning the fire department for struggling to save some of your home when it’s in flames, demanding instead that the firemen pursue the purported arsonist.