WWW so you think it is fair for depositors with more than the FSA £35k maximum to lose their money in these banks? Geeez screw saving then may as well go out and blow all our cash... whats the point in saving money if it just gets wiped out by the debts of wreckless borrowers....
Who is the Paulson plan stealing from exactly? If it is the taxpayer?... then the assets they get in exchange may be worth more than the $700bn?
It will cost the tax payers a lot more than $700bn if it doesn't happen. I will guarantee you within a week of them saying the bailout is no go the US taxpayer will be taking ownership of Wachovia, National City and a raft of other banks with balance sheets totalling way more than $700bn as they all collapse under the weight of illiquid money markets.
If this plan doesn't happen we will go into financial meltdown. I never though I would say this..... but WWW I think you are too optimistic in terms of your view of the world if this plan doesn't happen!!
Geeez even Paulson is getting down on one knee to beg for it.... Buffet says it is essential.... who would you listen to??
1991 was very different to today... I would take the 1991 situation in preference to this without a second thought.... fear not WWW you will get you severe recession.... this is about preventing a depression