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Originally Posted by Fredflf
Yah but what about the bailout? We are going to pick up the bill for the speculators who already made thier money on thier gamble. What about free market capitalism. I can see bailing out owner occupied homes by making it easier for the homeowner to keep thier homes. But picking up the tab for bad risk taking is absurd. Yes the banking sector is in shambles, yes this is very serious for our economy, but the bailout just causes other problems down the line.
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I don't like it either; however, the US economy functions because the American people have access to credit. Think about all the items people buy on their credit cards that they don't need but would not buy if they had to pay cash. That's jobs lost if they don't have access to credit. Then you have the all the small business that would not exist without access to credit to keep running or expand.
Sure...Bail out the guy who purchased a house he could not afford. End result is he gets rewarded and we pick up the tab. What does America get out of that investment other than warm and fuzzies?
Fact is the ENTIRE government was asleep at the switch Congress and the Executive branch and since we elected them we have to pay. I say bail out the banks so the economy can recover and learn from our mistakes. Vote in November and get involved. That is about all we can do.