Reply #38: I don't think you understand what I'm saying. [View All]

[BzaDem]

I'm not saying that the original terms were great, or that economists all agreed that each original term was correct. I'm saying that given the choice between what we got and nothing (where nothing is what many people on DU want -- they want the companies to fail), there is no serious disagreement. (I'm not including Friedman's following in "serious.") As you said, Roubini was in favor of direct recapitalization, which is what we are doing now (which is allowed, as you said, because of changes to the bill). Maybe he preferred better terms, but that doesn't mean he would rather have no bailout. If you can find me an article where he specifically says that he would rather NOTHING happen instead of the direct capital injections that Paulson is doing now, then I will stand corrected (on Roubini's attitude towards this).