Short Answer: No!

By Kevin Siekierski, on October 6, 2008 at 12:24 pm

Long answer: Hell No! Not only are sub-prime lending and the secondary mortgage markets bad ideas, the recent “rescue” plan did nothing to address them. And now we know that $700 billion won’t be enough. The total of cost of all the “rescue” programs (Bear Stearns, Fannie/Freddie, AIG, etc) is approaching $2 trillion. When things get this bad, it’s time to let the market work itself out. Any intervention will only prolong the agony, making matters worse.