I know there’s more to it than this…
Federal Reserve Chairman Ben Bernanke bluntly warned reluctant lawmakers Tuesday they risk a recession with higher unemployment and increased home foreclosures if they fail to pass the Bush administration’s $700 billion plan to bail out the financial industry.
Let’s assume that paragraph is worth face value. The choice then is risk of recession, or $700 BILLION bail out? Honestly here, we’ve be on the verge of recession for almost the last year. If we’re only talking about the risk of a few quarters of negative growth, I’ll happily take that over this bloated bail out scheme.
