Is a Depression Likely

The way things are going now a depression will be difficult to avoid. Virtually all of the major banks are now bankrupt. This thing is way to big to fight by simply giving poor bank managers more money in the hope that it will creep into the rest of the economy. So far this approach hasnt worked. Its kind of like fighting a major forest fire with a garden hose.
Since we are going to have a major depression regardless of what the Fed does it would better to wait until the economy bottoms and then take the garden hose out and grow a new garden. Giving the banks more money is just wasting precious water that could be used to finance a real recovery. Because once the water(money) is gone there wont be any left for a real recovery when things do bottom.
What should be done now wont be done. The government should have nationalized Chrysler and let Gm go bankrupt and then rescue and rebuild it. That sceniero isnt now even close to happening now. Instead of getting rid of one the worst managers in automotive history Ricky Duke Wagoner was rewarded with bailout money.
The financial crisis is to big for a bailout. They first should just let things botton out and then try and start over.
The American people made bad mistakes in voting for George Bush (the elder),George Bush(the putz) and the giper Dutch Reagan and now we must take responsibilty for it and face the problems they caused.