Fannie Mae-No Politics (FNMA)

[big-yank]

If you read Paulson's book, he actually talks in some detail about what a total collapse of the banking system would have systemically done to destroy the global economy, taking us and many others down with it. I have not read Bernanke's book, yet, but his on-air comments lead me to believe he thinks similarly to Paulson. Later commentary by Greenspan, then Bernanke tend to confirm these views.

Failure to rescue the banks, as self-inflicted as many of their wounds seem to have been, would have led to an even more catastrophic scenario where only one end of the lifeboat was sinking. Try and explain the logic of that outcome to the families of the missing El Faro container ship.