Tuesday, September 30, 2008

Payroll crisis

Jeffrey Feldman picks up on something I had an inkling of earlier today but didn't have the skill to put into words: the current financial crisis could result in several businesses being unable to meet payroll. That means the worst case scenario of what could happen is that a LOT of people may lose their jobs, and soon.

I complained earlier that the advocates for this bailout have done a piss-poor job of explaining it to the American people. But tell them that their jobs may be on the line and I think a lot of them may start to think twice about their misgivings.

I still have a lot of problems with the idea of bailing out the very people who fucked us over. But if that is what is needed to prevent massive unemployment then I may just have to work past my misgivings.

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