A skeptical citizenry might have been more readily won over had the communications team at the White House taken more time to spell out the reasons behind its decision to bailout the banks to the country's mom and pop investors – the American public.
If it was a listed company making such a mammoth investment, they'd have to have put together a clear, comprehensive and accessible business case for doing so. Instead, too many senior legislators refused to stray from the rhetoric of Wall Street. Consequently, they alienated their investor audience and failed miserably to drum up the necessary support.
As many commentators noted, it was the rage of the average person at having to pick up the tab for the recklessness of some of the nation's biggest earners that was a bitter pill to swallow for many Americans.
Perhaps they would have done well to have spelled out the fact that the situation is going to get even hairier for the average person if the whole banking system collapses. As Martin Wolf in the FT points out, it is 'absurd' to believe one can punish Wall Street without hurting Main Street. 'The two streets meet. That is what streets do.'
I'm sure the irony of footage showing people declaring that the bailout was somehow 'socialist' is not lost on anyone. The bailout is so obviously a last ditch effort to save the West's beleaguered capitalist model.