This is an opinion item.
| Author(s)
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National Review editorial board
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| Source
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National Review
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| Date
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September 30, 2008
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| URL
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http://article.nationalreview.com/?q=ZDVmM2E5NzM2MzhlMjJjMjU2MWRmM2Q2OWQ4NGVhNjA=
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| Quote
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"There are alternatives to the Paulson plan, some of which are better or worse from a free-market perspective. But all of them involve major government action because in a financial crisis like this — originally stoked by misbegotten government policies — only the government has enough capital to backstop the system. It is the nature of financial panics to destroy institutions and wealth willy-nilly. Insisting only on private action in a crisis this large is like counting on private emergency response to a hurricane or on a private military to fight the country’s wars."
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Add or change this opinion item's references
This item argues for the position United States should bail out the banking industry on the topic Economic crisis of 2008.
