Edit: changed my post.

It sounds like what you are saying is that capitalism (i.e. "free market") does not work, so the government needs to break the rules of the "free market" in order to keep it from colapse.

Is that what you're trying to say?

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my experience on X5world when I spend too much
time posting in political threads in the lounge...

Eric, that question is assuming that you have 100% one system or another, not a combination of actions. If that were accurate then Iaccoca couldn't have used the Government to bail out Chrysler. So YES, a large bank is expected to turn a profit and in fact keep the market growing, it is in the countries best interest.

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An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

I changed my post. But yes, it sounds like I understood your post correctly.

Sounds like I'm in the wrong business then. I need one where a profit is guaranteed.

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my experience on X5world when I spend too much
time posting in political threads in the lounge...

FDIC says it all, at least in intention.

__________________

An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

FDIC is meant to save the people if the bank goes out of business. But if we don't even let banks go out of business and we bail them out with our tax money, then the FDIC will never be needed.

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my experience on X5world when I spend too much
time posting in political threads in the lounge...

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?

__________________

An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

Yes...this has been predicted for some time....

http://www.amazon.com/Communist-Mani.../dp/0451527100


So the choice of "what do we do when the system breaks?" is between moving to a more socialist system, or moving towards a more fascist system. Using our tax money to give corporate welfare to the failing banks is certainly a move towards fascism.

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my experience on X5world when I spend too much
time posting in political threads in the lounge...

more of survival then anything. That or change your whole financial system.

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An unwavering defender of those I see worth protecting.

"promote the general welfare, not provide the general welfare"

We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

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"

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my experience on X5world when I spend too much
time posting in political threads in the lounge...