Question now is going to be, " Is $700bn enough ?"
I seem to recall the original figure for TARP when it was first mentioned was 1 trillion.
I wonder how much inaction will cost this government and the tax payer in redundancy payments, unemployment benefits, housing benefits and lower tax revenue?
If anyone thinks that nationalising and bailing out failing banks is robbing from the tax payer, perhaps they should remember that the tax payer and the government were benefiting and reveling in all the free lending that was going on. They also created this problem so they should also shoulder the burden. If they don't think investors will be punished then perhaps they should check out how much the share prices have fallen in the past year or so.