Make no mistake, the bailouts were a catastrophe and NOT fine. The author says as much: "Compared to what I see as the inevitable “dual death spirals of MMT”,

Make no mistake, the bailouts were a catastrophe and NOT fine. The author says as much: "Compared to what I see as the inevitable “dual death spirals of MMT”, letting all those banksters fry in 2008 looks a lot more palatable in retrospect. David Stockman’s Great Deformation shows how the economy would have fully recovered by 2010 or 2011 instead of being where we are now: trapped at the Zero bound and headed toward democratic socialism and MMT."