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Does anyone else think that the government shouldn't bail out toxic investment banks?
Isn't this crisis a result of these banks getting what they wanted? The kings of capitalism didn't want government oversight and regulation, but now that they screwed up they have suddenly converted to the ideals of socialism. I think we should let them fail and see what happens from there, especially because there is no gaurantee that the bail out will save the market. If the American people are going to be royally screwed, then I would prefer to not have to pay $700 billion for this royal liberty. What are you guys' thoughts?
3 Answers
- Eric HLv 71 decade agoFavorite Answer
Letting them fail will set off a market meltdown.
Dow Jones going from 11000 to 3000.
US dollar losing half its value
20% unemployment.
No, thanks.
And the American people are not blameless here. You re-elected this idiot President the last time, you took out the mortgages on property you couldn't afford, you failed to do the math.
Now you have to clean up your own mess.
- CateLv 51 decade ago
No, I don't think the government should bail out these companies. However will they learn otherwise? And I will say, I don't see how this could be a partisan issue because you're quite correct in saying that bailing out these companies is a form a socialism and it's a form I don't like. Not one bit.
