The first bailout I know of was for $1.5 billion loan package to the Chrysler Corporation Loan Guarantee Act of 1979.
Like it or not, government did it in the past. So it's a no brainer for them to do it in the future.
The Fed determines interest rates, which controls the economy. If the economy isn't kept under control things would get very ugly.
Yes, I think there are somethings that are too big and we can't let them fail or everyone could loose everything. The whole world would have been looking at another GREAT WORLD WIDE DEPRESSION.
At the time of the last bailout I was very concerned it would work. Some of it did work and some of the money in friend's pockets.
That said, look at the market, $8k in 08 to over $18k. Some may say that proof it worked, some say the sky if falling. Only time will really tell.
I see the necessity of our government keeping the ship from sinking. Let the stock market sink the ships that need sinking.
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Today's Featured Article - Oil Bath Air Filters - by Chris Pratt. Some of us grew up thinking that an air filter was a paper thing that allowed air to pass while trapping dirt particles of a particles of a certain size. What a surprise to open up your first old tractor's air filter case and find a can that appears to be filled with the scrap metal swept from around a machine shop metal lathe. To top that off, you have a cup with oil in it ("why would you want to lubricate your carburetor?"). On closer examination (and some reading in a AC D-14 service manual), I found out that this is a pretty ingenious method of cleaning the air in the tractor's intake tract.
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