Anti -Socialist , What do you think about the latest government bail-out?

I think it is the wrong thing to do. The government should have stayed out of it, let the businesses fail, let the housing market crash, let the credit market go to crisis, and let folks learn their lesson. Once we hit bottom, the inflation would have reset, the market would have rebounded, and maybe, just maybe, folks would have learned to use credit wisely, not over-extend, and not to live beyond their means. Also the corrupt folks at the top could have been held to account for what their greed did.

Running a country as large and as important as the USA is a complex thing. We are part of a global economy. A lot of what happens here on our shores have a wider impact on companies and people around the world. AIG insurance is a huge insurer of businesses, mortgage insurer, personal life insurance and it`s the only major player in the insurance market.

It`s simple to say that government should have a hands-off attitude but that comes with a high price. More jobs lost (84,000 in August alone), more problems in the banking and investment sectors of our economy. If you are under 50-years old, you have time on your side so 401Ks, retirement investments, social security and the like are not that important to you.

Worse is seniors who have already retired and are now living on a fixed income and too old to re-join the workforce. McCain advocates de-regulation to private enterprise but look at their record. Are they more capable than government? How do these CEOs run billion $ companies into the ground while earning million $ bonuses?

Remember that McCain wants to continue these failed Bush practices that will continue to benefit the privileged class and crush the middle-class (see source McCain v. Obama Tax Cuts for details). There is a need for stricter regulations and control of the banking system. We could learn something from our neighbor to the North, Canada in this area.

Having said this, these bails are necessary to prevent a collapse of the whole financial system as it did in the Great Depression of the 1930s.

FYI, the working class would get CREAMED if the world's largest insurer packed up and went home. Businesses would fail, employment would disappear in short order, and investments for the average worker would go up in smoke. The government is loaning for a period of 2 years, $85mil to a company in exchange for a 11.31% return (not shabby!) and if a default arises, the government owns 80% of the company. I think the Bush administration chose the most palatable alternative, short of letting AIG go into BK, and unraveling the basis of almost all business worldwide (risk management).

The government is getting involved in our lives more and more each day, because we refuse to get involved politically to guide and influence our government beyond the cursory walk to the polls every four years.

People get the government they deserve, it never fails, each and every time. If we want to point fingers, let's point it at ourselves first, because civic responsibility and political involvement are two concepts heretofore unknown in this nation for almost two generations now.

They hate middle class, They just want to help corporates.

Republican congress and McCain destroyed whole nation with their deregulation. They must be tried in court for this crime.

EDIT:

Its $85 billions not 85 millions (80% stakes in AIG)

I think this (and every other) government bailout smacks of socialism!

It's appalling that the U.S. Gov't dares to interfere with the market thus!

This guy had it right: http://halebobb.com/davie.htm

well, the dems are bailing all these clowns out, after clinton de-regulated them. and it's "our" money (taxes) the government has no "income" (only taxes, or printing new money and devaluing what's in our wallets and bank accounts)

i think jesse needs to "de-nut" congress along with obama.

It cares about the working class. They don't want the economy to crater, credit cards and mortgages dry up.

The rich execs already got their money. This latest action is to support the little guy.

They are against government intrusion except when they need to be bailed out by all their greedy corruption. How convenient.

Yeah, I agree. A little bit of regulation would have gone a long way. Seriously.

Politics is trying to control economy and it's not supposed to