This government bailout of these failing banks

There is just so much wrong with this situation I don’t even know where to begin.  Dh and I are tossing around the idea of starting a bank and then saying, “Oops, going bankrupt and it’s gonna affect our local economy.  Come save me.”

I just can’t even put it into words.

One thing is for certain.  I’d never, EVER manage to get elected for public office.  I believe in personal responsibility.  That doesn’t tickle the ears too much, ya know?

  

About razorbackmama

I'm a 36yo woman who loves Jesus, my husband of 16 years, and my 7 precious children. We homeschool the older 5 (formally, anyway!). We attend a nondenominational, non-charismatic church.
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3 Responses to This government bailout of these failing banks

  1. Bryant Arms says:

    Big business should not be allowed to become too large to fail. A business with that much influence is too big for a free market. It has access to wholesale market manipulation. And it has the privilege of depending on a government safety net if it fails.

    The recent economic crisis demonstrates that such businesses will now be rescued at taxpayer’s expense when they suddenly collapse. The CEO of AIG has even demonstrated on national TV that big business leaders expect tax funded rescues. And that diminishes a primary incentive for them to be efficient and prudent. It may even encourage their board members to strategically create a crisis requiring a government bailout rather than suffer losses over time on their own. These business leaders have developed an attitude of entitlement that should inspire corporate welfare reform.

    If businesses that are too big to fail are allowed to exist, then they should pay for their own government entitlement programs. This has been the arrangement for the lower classes. That is why social security tax rates in the United States become less for those who become wealthier. Wage earners should not be expected to pay for business welfare too. The influence these businesses have over markets should help them pay for their government programs. And to discourage corporate welfare fraud, those in charge of businesses that either purposely or by neglect cause the government to pay for their rescue should be punished for a kind of embezzlement.

    Bryant Arms

  2. Lawanda says:

    Oh, I know exactly what you mean. This whole economy thing irritates me! :-p

  3. I don’t know that I’d want big businesses to not be allowed at all, but they certainly shouldn’t get special treatment.