Bailout Fallout

The public is suspicious of the bailout. Normally I'd say that's a good thing, but they seem to be suspicious for the wrong reasons. They think the bailout is political bigwigs helping out their fatcat Wall Street friends. This buys into the false Wall Street/Main Street dichotomy.

Whether the bailout is a good idea or not, the point is that if the crisis isn't dealt with, credit will be destroyed and the economy will contract. The bailout isn't to save some investment banks, or government sponsored enterprises like Fannie Mae--it's to protect the whole economic superstructure that everyone relies on.