Doing nothing lets us see what the "worst case" situation is. I don't want to see worst case. No way. We have further to fall than the Great Depression, which also means a longer way to recover- do any of us want to retire in our kids lifetime?
I think the bailout is warranted because worst case is unknown and can be really really bad. 90% unemployment bad. 90% homeless bad.
I have a mortgage and owe more than the house is worth. I can afford to make payments if I work. But if the credit crunch forces my company to lay me off, my mortgage defaults and the credit crisis gets worse.
I am at no risk of defaulting if I work. Mortgage fits easily into our budget and we pay a little extra on it to boot.
The worst case gets worse if I lose my job. No thanks.
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- General questions get general responses. Specific questions get better responses. Want a better answer? Re-read my signature LOL
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