to say that the cost of a lack of bailout is the one day market drop is not honest on the part of anyone who makes the argument.
Besides, the increase in taxes, the squander of the 700 billion, the increase in government borrowing necessary to fund the 700 billion will damage the economy far worse than letting Citicorp fail.
And if you look carefully at Paulson's arguments there is simply no reason why this will increase lending. It will just reward the stockholders of the existing foolish lenders and their executive pocketbooks.
The average nice house here in Southern Marin is now 2.5 million.
Mas, > hope she thinks it was worth it scoring those wonderful debating points.
Oh, it will be worth it all right, as long as the House Republicans can take the fall.
Just like Chuck Schumer who provided the straw that broke the back of IndyMac. Cause you know, he was concerned about the effects of a California bank on his constituents in New York.
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