"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."
The dumbest thing he has ever said. The possible interventions won't help the economy. It'll only make the recession worse by prolonging it.
Some people got too much credit. Now, they'll be short on cash for some time. A few companies might go out of business. Their employees will suffer in the short run. But that's the nature of the system. It'll self-correct. If the government provides more money to the people who don't have financial and business sense, then they won't learn! They'll keep on making the same mistakes and in the future they'll hold out their hands again.
So not only won't the government help today but it'll set up terrible incentives for the future. "Protecting" people from failure is not the best policy.
Link via Vox.