Quote:
Originally Posted by Tribesman
(Post 1184362)
Irrelevant, since the issue is that the people who voted for the program were fed false information about the program and its recipients.
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Yes, but there are good points to be made from all sides.
I always look at the previous administration, both Dems and Reps, that they failed by not seeing this coming, not regulating the financial institutions predatory practices, and allowing the capitalization of credit markets beyond the limits of the fractional reserve. The housing market bubble was pure manipulation of an unregulated industry. It happened before in the 80's (S&L crisis)
On the same note, business is all about risk. those that took the risk, bought undercapitalized credit swaps and financial derivatives, should have been allowed to fail reguardless of how bad it hurt the economy. If the size of the companies failure actually has an effect on global markets, then we should look at possibly not allowing companies to become that large in the first place. Whole different issue.
Same with General Motors. If losing them would destroy the auto industry, they should have been broken into multiple companies under the monopoly provisions currently in place. (They did it to Microsoft) I own a small business. I have money stashed away to carry me through rough times. When times get rough, I don't run to the government for a bailout, I suck it up. I also pay myself last. If I can't, I go out of business.
So should they, rotten friggin bastards. I don't think any company should be bailed out in a free market economy. As someone said earlier (not be, but I agree) we just privatized profit and socialized losses. Unacceptable. The current administration is just as guilty. Spending us into oblivion is not the answer. Time to kick these failed companies to the curb.
There are laws that prevent me from writing bad checks. I think my government should be held to the same standard, unless we are defending ourselves in an "actual" war, like WWII when we were attacked.
The excuse about 911 being an attack on us and were fightin a war on terror, horsecrap. Maybe terrorists wouldn't want to attack us if we weren't running around the world sticking our noses in every ones affairs. You don't see terrorists attacking Switzerland. Can't imagine why. There a lesson to be learned there as well.