Who are we really providing welfare to? The banks on Wall Street made awful business decisions, but these decisions came about in large part because deadbeat home owners bought homes they couldn’t afford. And let’s not forget about all of these deadbeat “developers” who have thrown a lot of cash around (especially here in PA). These people had awful business plans, built condos and shopping centers nobody wanted and when it was clear they couldn’t be sold, abandoned the property and stiffed the banks.
This whole mess is due to the fact that we built our economy on debt. We were like the grasshopper who fritted away the summer and come winter has no food. Well, fall is here and our cash pantry is bare. Now we all have to pay the price.
Nope, I'm done with this shit. No more compassionate conservatism here. No more allowing the government to fix what the government effed up and then thanking Chris Dodd and Barney Frank for forcing banks to lend to poor credit risks so they could save me from the beast. They are the damn beasts.
Unfortunately there are a significant number maybe even a majority) of Americans who put and keep reelecting politicians who enabled these Wall Street scumbags.
Too many Americans believe actions like lowering qualification standards have no long term consequences. Well they do ! Too many American have a “Scrooge McDuck” knowledge of how the economy works. You know basically rich guys have basements full of cash that they roll around in. (Like Scrooge McDuck!)