Is the bailout needed? Many economists say 'no'

"It's more hype than real risk," said James K. Galbraith, a University of Texas economist and son of the late economic historian John Kenneth Galbraith. "A nasty recession is possible, but the bailout will not cure that. So it's mainly relevant to the financial industry."

Indeed; it was arguably attempts to "bail out" the broken system that turned the depression from a market panic and recession into a decade-long ordeal, "solvable" only by the greatest-ever World War. I really don't think we want to go down that route again.