The more I think about it, the more I believe we were had when the federal government proposed that $700 billion bailout to primarily deal with the liquidity crisis.
At the time, nobody seemed to know what to do. When Secretary of the Treasury Henry Paulson and Federal Reserve Chairman Ben Bernanke jointly proposed the bailout in an attempt to avoid a repeat of the Great Depression, nearly everyone threw up their hands and concluded there was no alternative.
His solution; CAPITALISM!:
Why not let them be bought by others in bankruptcy? There are those who say we are bailing out companies in order to prevent massive layoffs. In my view, those layoffs will come sooner or later anyhow because those companies are run by incompetents and no longer able to compete, while foreign companies like Toyota, manufacturing their cars in the U.S., are selling them and not seeking to be bailed out.
This is why we must get elect true conservatives from our party. The dems are certainly not going to fix this mess. Their solution to any problem is to throw more money at it.