peter schiff tells it like it is, page-4

I don't think people have quite grasped what would happen if the FED were not to bail out the financial system. I have not yet read anything on this topic.

A highly esteemed fund-manager just appeared CNBC, and he said that if the FED plan was not approved, it would be the end of the American dream - the basic tenet of which is that the life of your child will be better than your own.

If the Fed didn't bail out the financial system, it would not result in a mere recession. This will happen regardless. It would result in an economic depression never before seen.

I'm talking an apocolyptic scenario. 30% unemployment. Mass poverty, possibly looting and rioting in the streets. You can say goodbye to the Big Four Australian banks. Gone. All Ords? Gone. Try 1000 points. Not 5000.

Think about it. If the FED are willing to violate the basic tenets of capitalism and intervene on a scale like this then there must be very serious consequences if the problem were to continue unchecked.

Indeed, in the words of Henry Paulson himself, if the FED package was not to be installed, then 'Heaven help us all.'