Belmont Club

By Richard Fernandez

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October 3, 2008 - 3:31 pm - by Richard Fernandez
Craigicus
2008-10-03 21:13:33

It isn’t a bailout. It is a lubrication of the gears to keep things from seizing up.

It was a global industry that traded in these toxic packages. That industry serves all the rest of us. No matter where you were in this economy, you gained due to the boom times.

So to help buy up these toxic packages, possibly at a loss, is not giving money away. This was the universally understood and non-controversial lesson from The Great Depression.

The U.S. taxpayer will really suffer if we don’t eliminate the chance of stiction in the gears of our mighty engine of commerce.

Keep the moolah moving or breathe in a vacuum.