Scary Financial Movie Trailer

Here’s a great quote from Jared Bernstein on Treasury Secretary Paulson’s announcement earlier this week on the $700 billion bailout.

“The situation is like that movie trailer where a guy with a deep, scary voice says, ‘In a world where credit markets are frozen, where banks refuse to lend to each other at any price, only one man, with one plan can save us,’” said Jared Bernstein, senior economist at the labor-oriented Economic Policy Institute in Washington. And yet, the more he looked at the data, the more Mr. Bernstein became convinced the financial system really does require some sort of bailout. “Things are scary,” he said.

I am pretty much a free market guy, but I must admit I am at a loss on this one. What do you think is the best solution at this time?

Note: Here are a few articles dealing with the economic crisis from a Christian perspective.

Related post: Bailing Out the Bailout?

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