A Bottomless Pit

Sometimes doing something rather than doing nothing is actually worse. For example, dropping $700 billion into a bottomless pit. I like how the day after the bailout was approved - suddenly reporters and analysts were shouting it wasn't enough. More needed to be done. Where were all these reporters and analysts before Congress' vote saying the $700 billion was just a start? All the bailout is going to do, aside from cutting taxes by $150 billion from the sweeteners attached to the bill, is clean up a few financial institution balance sheets, but do little to loosen the credit markets. Perhaps we need to nationalize the entire financial system, get rid of the laws that permitted the RBSs and CBOs that came about with the push for deregulation of the financial system by the banks in the late 90's. Whatever was needed to be done - obviously the bailout package wasn't it.