Bail Us Out, Since Structured Bankruptcy Won't Work

Also known as: Please print money to make up for all that fake money we lost. It astounds me how these "free-marketers" are so willing to talk out of both sides of there mouth. Bailouts are the worst thing in the world until you discuss so-called nationalization.

Gross: Nationalization Would Fail - WSJ.com: "'If the government cannot substitute credit to the same extent that it is disappearing from the private system, then the U.S. and global economies will retreat,' the bond maven said.

'If the economy is viewed as a bathtub filled with water (credit) at two different times with two different levels, then draining it back down to the lower first level might reduce economic activity proportionately. Liquidate debt (credit) to 2003 totals and you just might reduce economic activity to 2003 numbers as well. Whoops! That would mean a 10%+ contraction in the economy with unemployment approaching the teens. Keep that bathtub full!'"