Argument: Advocates are fear-mongering to ram through $700b plan
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Allan Meltzer, former economic adviser to President Reagan and Carnegie Mellon professor of political economy. - "This is scare tactics to try to do something that’s in the private but not the public interest. It’s terrible."
Daniel Mitchell. "Bailout Would Impose Needless Economic Damage". Real Clear Politics. 1 Oct. 2008 - Some politicians and government officials are making reckless charges of greater financial turmoil in the absence of a bailout. These grossly irresponsible statements may cause short-term market losses as investors try to second-guess how other investors will respond, but the assertion that the stock market's health - especially in the long run - depends on bigger government is belied by real-world evidence.