Quote:
Originally Posted by MS Fowler
Actually, I agree with RichC. The taxpayers should not be paying corporate welfare. In capitalism, you MUST allow businesses to fail. The managers, and Boards of Directors who run corporations into the ground must be held accountable for their choices, and not be allowed to walk away with personal fortunes.
The entire bailout business is a total scam and waste of money. If they HAD to do something, they should have given the money to people who owed the mortgages to pay them off. That would have put the money back into circulation rather than allowed the banks to hoarde it. It would have freed up additional money for spending because those with the paid-off mortgages would have more money for spending on other stuff.
You must also allow them to succeed, and grow.
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Another aspect of that is the bizarre circumstance of foreclosed houses sitting vacant so long and so obviously that gangs and other squatters have moved in and be-soiled them, etc. So the banks were not getting sufficient flow of money from the residents to satisfy everyone on the gravy train so they boot them out, leaving the houses to not only bring in no money but to be open game for being trashed by punks.
Oh boy. Is this a great country or what?