Some Experts Say Fed Bailout of Banks Will Be Profitable for Main Street

I tend to agree with Pimco’s Bill Gross, not just because he’s smart, but because he’s right on this one. I’ve been watching Cramer, too, and he seems to think the same.

We have to do this deal. The cost of not doing it is too high. And I do believe that the benefits will far outweigh the costs. Go find an 80 year old who lived here during the Great Depression. While they look upon those years (yes, years, as in a whole decade) with fondness, they would not choose to relive the pain wrought by an economy crippled with no liquidity, no credit, 25 percent unemployment, and picking peaches for 25 cents a box.

Our government froze then. Let’s not freeze now. The time is to act. Let’s not cut off our nose to spite our faces here. Sure, the officers of these companies do not deserve inflated compensation packages; some say they should be making furniture in a federal prison.

But we have time to deal with that later. Let’s pass the darned bill and go to work!

Pimco’s Gross says bailout to benefit Main Street: report: Financial News – Yahoo! Finance


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