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Politics : View from the Center and Left

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To: Katelew who wrote (85494)	9/19/2008 2:58:46 PM
From: biotech_bull	Read Replies (1) of 542005

Actually I'm profoundly sad today at this weeks' events re the capital markets and the incredible cost the treasury is undertaking to perhaps fix things Hi Kate, I don't think they had a choice. This editorial from FT makes a good case for this being the time to think about survival not ideals ft.com Such action will increase US government debt substantially, perhaps even by as much as 10 per cent of gross domestic product. Nobody knows the scale at present. The US government can, fortunately, afford this. Indeed, it cannot afford not to create the means to act in this way. The follies of a generation of irresponsible financiers will fall on future generations of taxpayers. A price will have to be paid in fundamentally transformed and tightened financial regulation. But that is for another day. Today is about survival. Lenders of last resort must lend freely and they must do so right now.

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