I've been giving some thought to our treasury's decision to bail out some large failed banks and all the attention it's getting lately and I've come to these conclusions:
Everyone categorizes our options as being these two: namely bail the suckers out or do nothing and suffer through a recession.
Since I'm from the Austrian school of economics, I see it like this: to bail out is to do nothing. That is to say, it does nothing to address the problem that caused the artificial boom. The reason we're in a 'crisis' at this point is because economic law, as it tends to always do, is now proposing an actual, feasible solution: the liquidation of bad debt.
If the congress thinks it can monetize its way out of a recession, they just as well repeal the law of gravity while they're at it.
Now notice the words we're using: Bailout v. Rescue plan, Bust v. Market correction, Worthless junk v. Illiquid assetts. Notably, one of the 'toned-down' terms perfectly describes what is now occurring and exactly what we need: a market correction; and not surprisingly, that is precisely what our congress is trying to prevent, even at the peril of its reelection.