I Admit It: I am torn over the bailout

[War on Want]

I am also torn on the bailout. My principles on trying to stimulate the economy from the bottom up and have the end of recessions help the working class in the long run rather than the upper middle class. I also have problems with accepting the huge amounts of money being spent on this, when it is probably just a slight fix in many cases.
At the same time, I realize that this bailout plan needs to be passed fast in order to have an affect on the economy and that this may be a good way to fix some problems that might happen in the future. I understand that much of this bailout plan would greatly stimulate the economy but at the same time I have huge doubts that it would.

So in other words I lean towards supporting the bailout on practicality and lean towards being against it on principle.

[War on Want]

I don't feel at all torn, even with a Morgan Stanley employee for a father.  The government needs to back off and let the market fail.  It's going to suck but it's the natural boom and bust cycle.  The more you fight it, the worse it will be next time the bust is supposed to roll around.  There are ups and downs, we can't just have the ups and expect the government to work as a ratty old rope bridge across the downs.  The more we use that ratty old bridge the more likely we are to fall through right in the middle of a horrible depression.

I agree with you in some ways but there are fundamental problems with the financial sector that can't just be fixed just by the market correcting itself. I mean sure a pretty severe recession would probably stop many companies from having their risky loans and mortages that got us in the mess but couldn't it just be solved through more regulation and have a more minor recession? I mean I can understand being against the bailout but I think more regulation(for once) would be easier on the country that market self correction.