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The countries who perform the most aggressive actions to get out of this mess are going to be the ones who end up stronger than ever. So this situation is extremely dangerous to those countries currently at the top.
The Republican plan is to essentially do nothing about this. Just let the free marketplace take it's course, allow huge companies to fail and hope that something great rises out of the ashes after a depression.
I don't like what we've done, but it was a necessary evil. The Republican alternative is just nuts.
The only reason why the Republicans didn't support the bailouts at all is because if the economy turns around in 2010, that would look like the Republicans endorsed the Dems. And with mid-term elections in 2010 they can't have that. At this point their only hope is for the economy to continue to fail though 2010 so that they can pick up seats on the claim that they were against failed bailouts.
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