One fallout of the congressional and presidential, not to mention Fed, policies of "fixing" the economy is that, it appears that, instead of a quick recession it has become a long slowdown. The second half of this year looked to be a quick recovery and that is fading away. The stock market has noticed this and it is significantly down.
I won't say that the bailout was a bad decision, yet. I'm reserving judgement until I've watched how it has played out. Glenn Beck was incensed at the Fed bailout of financial institutions but I believe that they were able to stop a "run on the bank" with several of these leading institutions. If that would have happened, we would be watching a debacle not seen since the crash of '29. I wouldn't lose any sleep over those that made millions off the unsuspecting, but I would hate to see our country's economy crash over the decisions of a few white collar criminals.
One thing became obvious to this conservative: There is a real need for governmental oversight of businesses, in particular banking and insurance. Not regulation that stifles business but directs it from destructive practices. Many people are hurting, some very savvy, from what is going on.
We may have a longer way to go than what we have recently hoped.
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