Leaving aside the fact that it benefited everyone by keeping the financial system functioning, and the banks open, protected depositers, revived stock and bond markets, and helped make back $5 trillion in lost asset wealth, and leaving aside the fact that the US financial sector pays the US treasury over $400 billion a year in taxes, and leaving aside the Fed's record profits last year on all its forms of support - paid to the US treasury at year end I might add - none of the money directly invested in major US financial corporations has cost the US taxpayer anything. Bailouts to UAW, cost plenty. Handouts to deadbeat homeowners, cost plenty. Middle class entitlements, the greatest boondoggle waste in world history, cost plenty. None of them get a drop of ink from the populist haters of finance. Why?
Because they hate rich people benefiting in any way, and any cost to themselves has nothing to do with it.
Which is why to me everyone who argues that way and recycles the same commie class war bilge is lower than pond scum. I'll take the bankers over them any day and twice on Sundays.
I’ll stand with Andrew Jackson and Thomas Jefferson on their attitude toward the parasitic banking entities, and they weren’t commies. You appear to believe there is such a thing as a free lunch (”Mainstreet . . . is never expected to pay any of it back”). This is not just looting by the banker class, it is looting by the commies of the moral and thrifty in favor of the immoral and wastrels.
Or as Keynes once said:
“By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”
The Free Republic is doomed unless you and 999,998 others can begin to see what is going on here.