Almost National Champions

If you know me, you know I do not care for the bailout. Not one bit. It goes against all the things I believe about government and the market. I think it sets a dangerous precedent. I have been thinking about the bailout and the Great Depression because the media seems to think they are one in the same. Either way, I found an interesting article out of UCLA about the Depression and government intervention. 

"The fact that the Depression dragged on for years convinced generations of economists and policy-makers that capitalism could not be trusted to recover from depressions and that significant government intervention was required to achieve good outcomes," Cole said. "Ironically, our work shows that the recovery would have been very rapid had the government not intervened."