The Wall Street Journal reports that Gary Becker has recently said on his blog "I have reluctantly concluded that substantial intervention was justified to avoid a major short-term collapse of the financial system that could push the world economy in a major depression." I don't have a Nobel prize. But he does. We are saying the same thing. So don't listen to me listen to him.
During the battle of Shiloh, General Sherman would cry nightly and Grant would get drunk because no one thought the Civil War would be a long drawn out affair. Even in the face of the bloody disaster that was the battle of Shiloh, people still said it would be quick and easy and over soon. Sherman and Grant knew better and it almost made Sherman Coo-Coo since no one believed him. Well, if this bail out package doesn't pass, I'm breaking out the liquor and calling the men in the white coats to take me away. If you see a drunk man spinning in circles talking to himself skipping down the road, call my wife and offer to help.