An Inadequate Case for the Bailout

http://www.nytimes.com/2008/09/24/opinion/24wed1.html?_r=1&scp=5&sq=bailout&st=cse&oref=slogin

---------- Forwarded message ----------
From: barry levine <levinebar@gmail.com>
Date: Sun, Sep 28, 2008 at 5:57 PM
Subject: An Inadequate Case for the Bailout
To: letters@nytimes.com

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To the Editor:

   Shoveling federal dollars into failing investment banks without regulating their future dealings is as myopic as bailing a boat at sea without fixing her cracked hull. Nothing the we've seen yet suggests that we won't have to "save" these same banks again, whether in a year or in a decade. We may continue to bail until our resources are exhausted. Any bailout of these banks must be contingent on regulation of their dealings. There will never be a better time to write those regulations than the present.

Barry Levine