Banking Bailouts Will Prolong America’s Second Great Depression

[WhiskeyGirl]

WASHINGTON--(BUSINESS WIRE)--The banking bailouts will further the nation’s economic depression, according to a white paper released today by Martin D. Weiss, Ph.D., president of Weiss Research, Inc., an independent research firm. The white paper outlines three reasons the bailouts will fail and recommends a series of steps the government should take that will lead to a speedier recovery.

Titled “Dangerous Unintended Consequences: How The Government Understates the Dimension of the Banking Bailouts, Buyouts and Nationalizations Can Only Prolong America’s Second Great Depression and Weaken Any Subsequent Recovery,” the white paper lists America’s weak banks and uses that data to demonstrate that the U.S. government greatly underestimates the scope of the debt crisis while overestimating its ability to effectively save troubled institutions without adverse consequences.

The most dangerous consequence of federal bailouts is growing market anxiety about an eventual Treasury default, raising the specter of potentially fatal damage to the credit of the U.S. Treasury.

http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090319005663&newsLang=en

I wonder if this will be call the Depression of the Obama Generation "DOG".  (odd, that's something else spelled backwords).

imho