TARP was a bad idea from top to bottom. I think history shows that.
If companies are going to fail, let them fail and let their competitors fill the vacuum.
“If companies are going to fail, let them fail and let their competitors fill the vacuum.”
Damn straight. That is part of free market, which we don’t have. Instead, these large companies know they will be backed by Washington, and they behave as such.
Their managers are more concerned about stock holders than they are about maintaining a company with longevity, and that is what has helped kill America. Many of these companies stifle competition by promoting regulations that only they can afford to navigate, they buy up the competition and close the doors on them, and they behave like robber barons, all with the approval of Washington.
GM should have went under. A reset button if you will. Sorry, but yes there would have been job losses, but some small company would have risen up, and created a better product, at a better price, and would have learned from the mistakes of GM.
Instead, we reward bad behavior, and bad business practices, just as we reward bad lifestyle with the welfare state.
I am all for business, but I am for free markets, I am for the ingenuity of Americans that made this country great, not for cronyism and protectionism.
Let the market tumble 5,000 points, I don’t care. Better to swallow that pill now. Instead we keep inflating the market falsely, which only serves to put off the inevitable.
I personally don’t give a damn about insuring the success of the markets. If you buy into a bad product expecting good returns on your investment, then you should suffer those consequences.
The same with the housing market. These artificially created bubbles are going to be the end of this nation.