Some people didn't decide to use the stock market to gamble their life savings away trying to make a quick buck.
My bankers have always tried to talk me into making investments that had a better return than CDs and annuities. I have always been ultra-conservative with my money and it has paid off so far {s}
Some people didn't play the real estate pyramid scheme game.
When Andy and I moved back to the states, we could have bough a million dollar home. Instead, we bought something modest that we could pay off within a year.
Why are they (the ones who are still solvent because they didn't gamble) going to have to go into debt to bail out the ones who went for the quick bucks?
You know my sentiments on this {s}.
Banks should be left to fail. Will that make existing housing go away? Nope. you can bet bankruptcy courts will see that they are occupied in order to keep them up as assets.
US Automakers deserve to fail. There are plenty of automakers willing to build sensible vehicles.
Ever read Ayn Rand? I read Atlas Shrugged and The Fountainhead as a teenager and they made a big impression on me...
Insurance companies are next on the massive bailout chain (mark my words). Let them go too. Nationalize health insurance to protect health and let the rest of the chips fall whereever.
As much as I hate the exhorbitant premiums I pay every year for health insurance, I have to disagree with you on this one. If you want to make something as expensive and mis-managed as possible, give it to the government.
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