As Wes Benedict can attest, I am an idiot. I have been trying to get my head around this bailout plan, which I oppose, but since the media narrative from the start has been that it will eventually pass in some form, even if they just keep voting over and over and over until Congress gives in from exhaustion, I have not seen one question adequately considered:
What would actually happen if the government did nothing?
Obviously readers here are libertarians, but a lot of you are well versed in economics, so I thought I’d take this question to you. What would happen, good and bad, if the banks were simply allowed to fail?