Perhaps if you could understand complex concepts you would see that if the government let banks fail they (and the taxpayers) would pay the freight anyway since the government insures the bank accounts held at these institutions.
The “bailout” would happen either way. However, the way it is being structured should prevent folks who had nothing to do with this economic crisis from losing a cent. The vast majority of this country has gone about their lives doing the right thing. They live within their means and they saving their money.
The situation at hand and the resulting loss of confidence in the financial system has put their life savings at risk. These aren’t folks living beyond their means or dealing in these sub prime mortgages. These are regular folks. They don’t deserve to lose any part of their savings because others have caved our system.
So the “bailout” is to restore confidence and to insure folks don’t lose their money and comes from the same government (and taxpayers)who would have to guarantee the losses anyway.
I am not against all socialist programs. I am against BOs brand of socialism, one that doesn’t stress personal responsibility and appreciation. And as a south side Chicagoan, I can’t for the life of me figure out why anyone would look to either Illinois, and in particular Chicago, for reformer pols who can bring folks together. Our state and my home city probably leads the nation in pols who end up in prison because of corruption. In my lifetime, 4 Illinois governors have gone to prison and a 5th, Blagojevich,(a friend of BOs), may soon be on his way. the whole concept is a joke.
Anyway which of my 3 homes do you consider a dumpster? My suburban Chicago home, my Del Mar home or my home in Telluride?
I grew up in a working class neighborhood going to city public schools not far from where BO has lived for the past 20 some years. Folks can make it from there just fine even without the government. All need to do is study and work hard.
In fact, one of my classmates was Mae Jemison, the fisrt African-American woman astronaut. I don’t think she is living in a dumpster either.
The $ you claim is socialism for rich folks is a joke. That is their money. You do realize we are talking about how much of their money we should be taking as taxes? It is their money. They earned it.
Keeping your own money isn’t socialism.
And lastly, if you read what I’ve written I said the particulars about Joe himself aren’t the issue. The issue is the redistribution of wealth by a third party, BOs government. We all hope to get ahead. We all hope that our children can get ahead. many of us stress to our children a work ethicc of studying and working to get ahead. We stress self reliance and personal responsibility.
BO stresses entitlement and blaming of others for one’s plight. His programs guarantee a drop off in production and more folks with not only with their hands out but with their hands in your pocket.
I believe folks should fully reap the rewards of getting ahead. They should be able to decide where to put their money to work not politicians like BO.
Why in the world would anyone want an inexperienced gas bag like BO and his cronys deciding anything important? Because he can read a nice speech? It’s laughable how his inexperience has been swept under the rug while when he is running for potus when Palin’s experience which is superior to his is regularly attacked.
Why would anyone look to Illinois or Chicago for anyone to lead this nation? We have the most corrupt politicians in the country and are well known for such? BO has is friends with and has political ties to Tony Rezko, a convicted felon, and Blagojevich perhaps our fifth governor in my 50 years to get indicted and possibly go to prison.
You and many others are being sold a bill of goods.
