Where is Carl Sagan when you need him? Well, if it weren’t for the fact that he died almost twelve years ago, and wasn’t known so much for political commentary, he might have been the perfect person to announce that the U.S. government’s bailout of our crumbling financial system was going to cost “hundreds of billions of taxpayer dollars.” Hundreds of billions.
Swell. On top of the $1.1-1.7 trillion we have already spent or likely will spend on Iraq, Afghanistan, and the so-called Global War on Terror (known by the mellifluous acronym GWOT). I’m not in a position to dispute that the bailout of corporate titans of greed (egged on in good fashion by most of us, but also enabled by an administration that proclaims the free market gospel), a.) because I’m not knowledgeable enough to know for sure but, perhaps more to the point, b.) that these financing institutions are so tightly interwoven into the fabric of our economy that we can’t not bail them out.