Quote:
Originally Posted by zimmy
You were ok with Bush bailing out the banks, I take it. Also, if your stupidity (your word) was going to take down the entire economy of the US with it, there would likely be a program. If it were only those people who took those loans affected by it, there would not have been a program. When it causes the entire housing market to collapse and greatly impacts the ability of ALL businesses to borrow money, then it is within the function of the government to step in. At least in the opinion of most economists, the Bush administration, and the Obama administration.
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"You were ok with Bush bailing out the banks, I take it." No, I was not.
"if your stupidity (your word) was going to take down the entire economy of the US with it, there would likely be a program"
That's a good argument for it. My rebuttal would be, if you don't let crooks/idiots fail, they never learn their lesson, so they have no incentive not to do it again. We cannot know what would have happened had they been allowed to fail.
So because I was individually stupid, instead of collectively stupid, I have to pay for my own mistake, as well as pay for the mistakes that others made that I did not make. Does that sound fair to you?