The Corner

Bailout–The Never-Ending Debate

Even if the bailout works, it will probably succeed mostly in reducing the risk of a complete financial meltdown (as Jim Manzi has argued). And it looks like we’re inevitably still going to have a recession and tighter credit markets for some time. So critics will have openings to argue, 1) there was no impending disaster to be averted, and/or 2) the bill didn’t prevent the economic pain as advertised.

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