This morning:

Paulson said that "it pains me tremendously to have the American taxpayer put in this position but it is better than the alternative."

Both Paulson and President Bush have argued that the alternative would be credit markets that remain frozen, meaning that businesses will fail because they can't get the loans they need to operate and the economy will grind to a halt because consumers won't be able to get loans to make the purchases that keep the economy moving forward."

So basically, "Our economy is so fucked up that it depends entirely on everyone spending money they don't have, so to make sure this house of cards doesn't come crashing down, we need to remove cards from the bottom and balance it all on a single card. Then turn on a fan."

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