On the economy, two things to remember

  • The DJIA is now within 500 points of it’s high before Lehman Bros and AIG.
  • The assistance given by the Federal Reserve and the government (TARP, TALF, etc) is going to cost much less than expected… and FAR less than the S&L bailout of the early 90s.
  • For everyone still kvetching about bailouts, the reality is that they saved the entire economy from a meltdown that would have made the depression look like good times. Of course there is a cost and we desperately need reform of financial services. However, this actually isn’t all that bad when you compare it to other fiascos.

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