Another Viewpoint

Alan Reynolds of Cato Institute says that

Left alone, financial markets usually work out the best possible deals among competing interests. Whenever the feds have gotten involved, by contrast, they've taken sides in the tension between stockholders and creditors - invariably throwing stockholders overboard.

therefore, bailouts are bad for stockholders. I would like to read his take on how BearStearns, Lehman, AIG, etc., don't seem to have made very many of those "best possible deals."