As Americans, we shouldn't like bailouts. Where I come from, if someone takes a risk and they're going to make the profit from that risk, they shouldn't have the taxpayer pay for the losses.
Sentiment: NEGATIVE
Any bailout of a private company is a bad decision by our federal government. Private companies have the right to succeed, but they also should have the right to fail.
I think people are sick and tired of bailouts, domestically and internationally.
Most of us are aware of the sacrificial slaughter of Bear Sterns. Some people call it a bailout, but I call it a handout - a government handout to some of the richest people on Earth, paid for by American taxpayers.
We never intend to lose our jobs, break up with our live-in loves, or face any number of the curveballs life throws our way. But they happen all the same, so have a bailout plan just in case. Sounds corny, but I call this the 'freedom fund' because it gives you the freedom to get out of a jam without climbing into debt.
My mother always taught me that two wrongs don't make a right. We shouldn't bail out Wall Street. We shouldn't bail out Detroit. It will cost the economy more than the cost of the bailout which is more than the politicians think. We'll run into the hundred of millions to prop these companies up.
Most Ohioans would be surprised to know that the same Wall Street megabanks which received bailouts from taxpayers in 2009 also receive taxpayer-funded advantages today simply because of their 'too big to fail' status.
If anything, the bailouts actually hindered lending, as banks became more like house pets that grow fat and lazy on two guaranteed meals a day than wild animals that have to go out into the jungle and hunt for opportunities in order to eat.
I won't dispute that bankers' privileged treatment in the 2008 crash merits populist scorn. But unfortunately, without a bank bailout, there probably would have been a worldwide depression.
As American citizens, if you believe all banks were bailed out, you would hate banks. I would, too.
I've criticized President Bush for his failure to use his veto pen. There's plenty of blame to go around. The question is how to solve problems. It's not bailouts. What made America great? Free markets, free enterprise, manufacturing, job creation. That's how we're gonna do it, not by enlarging government.
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