I'm not sure I buy the catastrophic collapse argument - it's an easy one to make. "Oh man, things would have been a lot worse if we hadn't done all that stuff w

I'm not sure I buy the catastrophic collapse argument - it's an easy one to make. "Oh man, things would have been a lot worse if we hadn't done all that stuff we did." Well, maybe. But let's just say it's true for now. Even if that's the case, those organizations could have been liquidated and their assets sold off, perhaps with the key pieces under some sort of guarantee from the Federal Reserve or Treasury or "Bureau of Stabilizing Home Interest and Trust" or whatever feel-good label/acronym these messes are typically labeled. The organizations that made bad bets should've been liquidated, even if you believe the catastrophe scenario (which I'm skeptical of personally).