Alternative to bailout - Let Wall St. fail

User Forum Topic
Submitted by kev374 on September 29, 2008 - 1:35pm

I can't see why we cannot just let Wall St. fail and use the $700 billion saved (or potentially a lot more) to assist Main St. from the fallout?

This is a more sure fire way of cleaning up the system. We are talking about upto $1.8 trillion that may be needed, can we not just use this money to assist Main St. cope with the downturn instead of bailing out some rich guys in suits on Wall St.?

If we bail out Wall St. there are no guarantees that Main St. will be protected.

‹ how much cash Congressman Issa, my hero ›
Agree, there must be some
Submitted by CA renter on September 29, 2008 - 3:43pm.

Agree, there must be some kind of bailout (the alternative would be exceedingly bad, even for a perma-bear -- talking about social repercussions, etc., not financial).

We need to provide minimum-wage JOBS to Americans via a work program. We also need to backstop the FDIC, etc.

The Wall Street "titans" can fail. Newer, better-managed institutions can take their place.