Quote:
Originally Posted by ERCougar
I think that without a bailout, we could potentially see a massive meltdown of uor financial system (not just market). However, ironically, one of the factors that led to the current crisis is the moral hazard created by the government's handling of the S&L bailout. Besides the enormous cost, I am concerned about the precedent we are reinforcing.
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No bailout would be worse. Not only for the US but the entire world.
Time to do the lesser of two distinct evils.