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Originally Posted by Wagner
You really believe it is in the best interest of the US for Citigroup to go under? How about the best interest of the Saudis?
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If you mean what is best for the wealthy elite who control most of the wealth in the US economy, then you have no argument from me.
But if you're asking what is best for the common masses, then the answer is to take the money that would be used to prop up the failing banks and use it to help the people who would be affected when the banks fail. At least then 100% of the money is being used to help the people.
When they give corporate welfare to the banks, you can bet that a fair share of that money goes to profit as is always the case with a corporation. Our tax money will ensure that the CEO gets his $100 million next year.
Alternatively, maybe the government should step in before the bank goes under and nationalize the bank, and then save it. I would have no objection to that. But to give the bank money so that they can continue to pay their top execs millions of dollars per year -- yes I have a BIG problem with that. That is nothing more than welfare for the upper class -- or I'll use that word again "FASCISM"