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September 22, 2008

MEGAN MCARDLE: How close was the market to a meltdown last week? "I do not work for the Treasury, the Fed, or an investment house, so take this for what it's worth. But my understanding is really, frighteningly close. . . . Consider that the Great Depression came upon a society much less dependent on unsecured credit than we are. Then count your lucky stars that our financial officials are moderately competent."

UPDATE: David Zaring looks at the Democrats' counterproposal. My advice to the Dems -- get Chris Dodd's name off of it . . . .

ANOTHER UPDATE: Tom Maguire weighs in.

Plus, thoughts from Arnold Kling.

MORE: How you respond is up to you, but the folks at International A.N.S.W.E.R. email me that they've set up a site called VoteNoBailout.org to oppose the bailout plan. That doesn't guarantee that the bailout is a good idea, of course . . . .

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