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We should be looking at this from the right angle. This isn't about government bailing out bankers or homeowners just because they want to help those in need. It's about what will have the most impact on the economy. You don't let huge banks sink overnight. It not only shakes the faith in the economy, but it is a loss of financial capacity in the marketplace and a loss of many jobs.
Homeowners...the same thing. People losing their houses are people not spending money.
But which has a more significant impact? Which is government money better spend, dollar for dollar? I don't the figures nor the algorithms, but I'd say keeping banks afloat has a better effect on the economy than individual homeowners. It might seem cold, but economics is often like that.
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Knowing that death is certain and that the time of death is uncertain, what's the most important thing?
—Bhikkhuni Pema Chödrön
Humankind cannot bear very much reality.
—From "Burnt Norton," Four Quartets (1936), T. S. Eliot
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