If nothing had been done last October, where would we be right now? No TARP funds, auto bailouts or cramdowns. No foreclosure hiatus. Bankers and financiers were told to pound sand.
I think that many more of us would be unemployed right now. I think the S&P would be below 400. I think we'd be witnessing the early signs of civil unrest. So far this has been avoided, but like many of us I think our representatives made a pact with the devil.