Out of the frying pan, into the fire

The problem at its core is that there are no good options. The republican rebels are right that a trillion dollar bailout will bankrupt America. Already, Asia is contemplating whether holding onto all of those US treasury bonds is wise. This would accelerate under a bailout.

On the other hand, I am one who believes that not pumping funds into Wall Street will likely push the economy into a nosedive that will be very difficult to pull out of.

There is no doubt that giving the financial industry a trillion dollars from the taxpayers sucks. I have sympathy to those who say we should help the real economy. But when we sent our real economy off to third world countries and become the world's banker, the financial industry became our economy.

Its like we have looked in the mirror and seen a monster. And we don't want to believe it is us, that we can kill it and survive ourselves. But the monster is what we have become.