If you believe the banks should have been left to fail (as I do believe), then why do you cheer the gov't bailing out GM ? ....it's the same thing to me.Justb like the Wall Street and Banks bail-out : It's capital (private) gains if they profit.
And it's socialisum if they lose money.
Too bad the US government didn't do the right thing, and let the banks go under (freddie and fanny included) and bail out the home owners instead.
The property value of the homes wouldn't have sunk and the economic recovery would have been full blast by now.
Foreclosures would be unheard of.
The government could have settled for belated repayments of housing mortgages directly with homeowners (extend the mortgage years or by other means), but instead bailed out the banks by trillions, and thos esdame banks gave millions towards bonuses to CEO's and higher upper management ! (millions of tax bailed out funds ) ! Is that capitalisum ? Or socialisum to the rich ?
Socialisum to the poor, for sure not !
If you believe the banks should have been left to fail (as I do believe), then why do you cheer the gov't bailing out GM ? ....it's the same thing to me.
I do not have all the answers, very few to be truthful.
But our debt of 15 trillion and climbing is not good.
I have yet to see a poor person give a man a paying job...There will always be rich people and poor people...I'm thankful to be in the middle..I dont hate the rich people..If they take the risk of putting up money for a business and do well, then God Bless em!