Date: 2008-04-15 03:26 am (UTC)
I like your bailout fund idea a lot. Hopefully something like it gets set up before the next implosion.

I'm aware of the arguments that the bailout was fundamentally a good idea, and I'm in partial agreement. The main thing I was driving at is that intervention here should be used as a club each time some Republican argues against intervention in far lesser cases.

Personally, I doubt that the idiots at the top will get held accountable- both because of their powerful allies and the ability to diffuse responsibility downwards. The thing is, everybody was raking it in(from the quarter million salary+bonus of the junior workers to the multimillions of those up top) even when the investment banks were writing assets down right and left. This is part of why I'm so frustrated- just look at Angelo Mozilo and Countrywide. It's tough to hold anyone accountable unless they were actively doing illegal stuff...and it seems tough even then.
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Just Another Idiot

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