It's a bad idea. A very bad idea.
The only argument for the bailout is fear of the consequences for failed governmental policies that the rest of us tolerated despite ample warnings of their likely result.
The consequences may be delayed but they are inevitable. They will be painful but they will be more painful and more protracted if they are delayed.
Decisions should not be made out of fear. Don't keep doubling losing bets. Don't throw good money after bad.
K.R. was not thinking clearly when last night completing the post that appears below under the title Time for Plain Truths, Serious Questions, and Careful Consideration. The only excuse is that it was about midnight and fatigue had set in.
It is true that there is no precedent for the financial meltdown we are facing and therefore there is considerable uncertainty about the most prudent thing to do. In such a situation, the best course is one recommended to K.R. by the very perceptive and wise lady who publishes the Gunslinger's Journal blog: Stick with First Principles -- Freedom and a Free Economy. A free economy always must include the freedom to fail and thus open the way for a new beginning.
These basic principles and the consequences of deviating from them are well set forth here.
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