HARM

Let's Not Emulate the Hoover Administration

So Mr. Sunshine seems to be suggesting that the Great Depression would not have happened if only the intrepid Fed & Treasury of that era had rushed in with taxpayers' open wallets fast enough and bailed/inflated like mad --just like the PPT is doing right now with Bear-Stearns, 'Trasuries for trash' swaps, GSE blank checks, etc. The fact that an enormous, unsustainable credit-fueled equities bubble had occurred during the 1920s had *nothing* to do with the economic woes of the 1930s, of course.

In Mr. Sunshine's world:
Reckless, well connected banksters reaping consequences of their own bad, greed-driven decisions = Bad.
Taxpayer-financed bailouts and Fed-induced commodities inflation = Good.

Oh, and if the rest of us *don't* bail out the speculators at the top of our economic pyramid, it'll mean a Mad Max future for everyone. Chaos, ruin, bread lines, misery! CEOs having to sell used yachts, 12th vacation homes, and paring down to... (*gasp*) ONE supermodel girlfriend!

The horror --careful what you wish for! (LOL)