Pauly B

Paulson, Not Bernanke, Is Washington's Most Powerful Man

If Bear Stearns was left to fail, wouldn't have been better to then create the funding from Congress to remedy the problem after the fact? It seems that everyone was invited to fix the problem except the people paying the bill!

I get nervous when government officials have the right to raid the Federal Treasury without Congressional oversight.

Yes we would have had a market crash with Bear Stearns of at least a 1000 points on the DOW, but at least we would have known gotten the principals in front of Congress to explain what they knew, and when they knew it.

It would be great for me to bounce checks, get bailed out for my bad behavior and never answer for it. Everybody feels good now, but was this good government policy?