Failure vs Bailout
Even though our Congress clearly said that it would have a Bailout plan in place before the weekend, here we are on Monday watching the largest single day Dow delcinein history. If you were heavily into stocks as a prime investment vehicle, you will have some ulcerous times ahead, but if you sell, where do you plan to go with what is left?
Many professional and amatuer economists have voiced a myriad of opinions over the last week and I have posted links to several of the most intereting comments I have read. Today I'd suggest that you read Jeffrey Miron's comments at CNN and consider, even with todays initial plunge, that perhaps failure of several large investment firms could be less damaging than a $700,000,000,000 government/taxpayer financed bailout, which would further dilute the strength of our nations currency.