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Politics : Politics for Pros- moderated

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From: TimF	9/29/2008 4:31:45 PM
	2 Recommendations Read Replies (3) of 793952

Can someone point me at a cogent explanation of why a bailout, and in particular this bailout, is necessary to avoid the Great Depression - Part II (This time it's personal!)? I don't understand why making banks whole on well-earned losses (by shifting them to the taxpayer) isn't just really big broken windows. Those losses exist, someone's going to have to eat them. Making me eat those losses deprives the economy of capital that would otherwise be put to better uses. If it truly becomes necessary to recapitalize the finance system, lets recapitalize banks that didn't overload on bad paper. You know, the smart ones... Posted by SG \| September 29, 2008 3:59 PM meganmcardle.theatlantic.com

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