That’s the long and the short of the matter where this asinine trillion dollar plus (yes, I did say trillion even though the media keeps reporting on the low estimate of $700 billion) abuse of the American taxpayer. As far as I am concerned, we might as well make a big pile out of the money and light it on fire like so many leaves, because that is by far a much more worthwhile use of our money.
We can’t lose sight of the fact that we are in this mess because of excessive government involvement in the market, and w would be foolish to think that these elected coconuts could get us out of it without making an even bigger mess. How much failure at the hands of government do we need to go through before it’s either too late or we learn our lesson and let the market limp away licking its own wounds.
I agree with your sentiment that we should let them fall. I distinctly remember that it was the banks that pushed heavily for bankruptcy reform to force people who got in over their heads to pay back their debts. I’m for personal accountability but that change was bought and paid for by special interests. Now that it is the banks that got in over their heads, we are expected to bail them out with no questions asked.
Funny how that works. I guess that is why they want to rush the plan through congress as hard as they’re pushing. They don’t want questions being asked. Even though congress is a spineless lot, at least some of them are asking what the taxpayer is going to get for their money or that the bailout is unamerican?
The more that I think about it, the more how I realize that this bailout has to happen. If we do not bail them out, they’ll withhold credit or declare bankruptcy which will cause the death spiral to worsen. Wall Street has us by the cojones and they know it. The sad thing is that in spite of the fact that the problem was cause by both sides, the people are going to reelect them again.
I agree with you completely. I wonder what would happen if no body voted and the proposed bailout ( I say proposed because we don’t have the money on hand anyway) doesn’t work…….. End the FED now while we can and get back on the gold standard!