Can’t argue with any of that. But the rescue did keep big employers like automakers solvent. I’m not financially astute enough to know how you could have done it without the 10% getting the most, they have most of the wealth, after all.
I do think they should have reset rates for underwater borrowers, if not written down the underwater losses. But that would have made the bonds even more worthless driving the banks deeper. Heads they win, tails you lose, don’t play and the world ends. No great choices.
