Business week – The idea certainly seemed all right to throngs of Americans who were outraged by news that American International Group (AIG) paid out millions of dollars in executive bonuses after it was rescued with taxpayer cash.

But would no bailout be even worse? Financial analysts and federal officials have warned that doing nothing to save AIG—or banks or the auto industry—would be a catastrophe, an economic domino effect of bank losses, stock market chaos, and job cuts. No one—at least no one in the government—has the stomach for that.

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CNBC – Video discussing the administration’s policy and economic projections, with Michael Steinhardt, WisdomTree Investments; Leon Cooperman, Omega Advisors and Mario Gabelli, Gamco Investors.

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Tags: cnbc, economic projections, gamco investors, leon cooperman omega, leon cooperman omega advisors, mario gabelli, michael steinhardt, wisdomtree investments