[quote=kev374][quote=urbanrealtor]I disagree with you on 2 of your points.
1:
I think that bailing out poor or disadvantaged people is a lot of what governments do (and what they are supposed to do). While this is not the capitalist thing to do, it is the democracy-driven thing to do. Oftentimes democracy and capitalism are at odds. Its a big part of the reason that FDR (and Reagan) were re-elected.
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You are joking right? Poor disadvantaged people who bought big mansions costing 10 times their income on liar loans, extracted home equity to live the high life, those that participated in rampant speculation and of course Wall St. who ran their companies to the ground while making huge commissions and bonuses…sure it’s the government’s job to bail these people out ..sarcasm off..
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Poor decisions were made. Very stupidly in some cases. With guidance that was poor in others. But yeah, even though people put themselves in these positions, there are enough of them that they constitute a big percentage of voters. More importantly, there is an even bigger percentage who are in economic danger as peripheral effect (like most of the country in a truly widespread credit crunch). Any one wanting to get re-elected would be well advised to address the concerns of both groups. Wealth redistribution makes sense if enough people vote for it. But I do see your point about living foolishly. While I think of this strategically, my actual sympathy is often limited.
