I’m not arguing with the Republican enterprise to bail out investment Bankers. We have the Republican controled SEC.
Some how giving Banks the income they expected to get during their run divided intrest rates does not appear similar to securing the economy.
It rings with Corporate Welfare.
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{ 11 comments… read them below or add one }
How about not at all.
It is corporate welfare. If I lose my job or an investment, who’s gonna reimburse me? No that’s why its called a risk. If they didn’t manage their risks well then it’s their problem. They’ve kicked enough people out of their houses and the inherently dishonest mortgage business needs to feel the pinch everyone else is feeling.
Property is not a commodity. Its property.
As a Republican I think that the government should not bail anyone out. The banks can foreclose on all those stupid people that took out loans they knew they couldn’t pay back. The banks may be able to recoup some of their money by trying to resell the houses but they’ll all take huge losses as well. The economy will probably take a temporary hit but people have to learn to accept responsibility for their actions.
If you are going to live on credit, eventually you have to pay the piper.
We shouldn’t bail them out at all.
Regardless of the economic impact, there is nothing in the Constitution that allows government to take the peoples’ money and give it to banks (or airlines or farmers or etc, etc).
This should be recognized as the corruption it surely is. It’s as bad as earmarks.
Only at break even. NO MORE CORPORATE BAILOUTS!
Republicans love welfare if it’s not for the people.
Just one more way for Bush to bankrupt the country.
It IS corporate welfare! Nothing could make me sadder than bailing out banks for problems caused by their own GREED. I took a bunch of coins to the bank, all neatly rolled and my bank # on each roll…and they said they now charge ten cents per roll to take them! I nearly fainted from apoplexy! Is there any other FEE they can dream up? (Sorry to rant!)
ADD: I had a little setback while gambling in Vegas…I’d like to be bailed out please.
We should not bail them out at all.
They provided the money to persons that they knew would not be able to afford the payments. They were trying to take advantage of people already in trouble financially. They created the problem and the problem escalated because of people signing on the dotted line all the while knowing that they could not afford what they were signing for.
Personal accountability is due!
It is corporate welfare -and a bad precedent why should we foot the bill for bad investments -I dont see the treasury running to bail me out if my 401k drops through the floor -because I was given a prospectus by an investment bank that states that all investments are a risk and past performance does not guarantee that I wont lose money – i guess they are exempt from their own standard contracts -(there is nothing wrong with averting the crisis but guaranteeing profit to make the country look like the economy is expanding at the taxpayers expense is another story
I’m a conservative and I don’t understand why they shouldn’t take the loss like any other business.
They can file for bankruptcy just like anyone else.
We should not be bailing our rapacious bankers who convinced people to take out these variable rate mortgages. The bankers knew that many of the people who bought these mortgages could not afford to pay the higher rates, and these greedy, soulless bankers still sold them the mortgages.
The idiots who bought these mortgages should not be bailed out either. We have got to let our citizens suffer the consequences of their greedy and stupid actions. We can’t protect all the morons in this country from their stupid actions; there are just too many of them!