Here here!
What is this, the People's Socialist Republic of America? If someone (lender or borrower) bets they can make a transaction work and they fail, they GO BANKRUPT, like every business proposition in a free market.
To do otherwise is to:
Privatize Gains and Socialize Losses.
There is no end to that.
I oppose the bailout too, but the above statement is blatently false.
There are plenty of good arguments against the bailout that don't require making stuff up.
You know how Congresscritters like to shove other items in a bill? Mostly pork, etc...
Here’s an idea. Support the bailout, but under a few conditions:
1. It stays like Paulson originally proposed it
2. It comes with a capital gains tax ELIMINATION
3. Cut spending on all other programs (besides defense) by 10%
Lots of people are hoping that the government will come to the rescue and save the financial system. We would avoid a lot of pain that way.
But, maybe we should just take the hit and focus on the recovery. Americans are strong and creative people. We’d find a way to crawl out of the mess and rebound stronger than ever.
I’ll bet most of us could survive longer without a paycheck than the folks on Wall Street!
What they mean only bailouts for themselves, friends and family.
They aren’t doing anything; but the same thing.
When a major hurricane hits, the government usually drops the ball and then the people pick themselves up and get on with their lives.
Nobody in the media is asking for details. Just secret meetings with Congress and wide eyes. Tell us how bad the crash will be and let us decide whether to ride it our or bail it out.