Should the government bail out private businesses?
Should the federal government bail out big business with our tax dollars. AIG, The auto makers, airlines, and more every day. I think nobody will bail me out if I go broke. I will just learn my lesson. What lessons are we showing other companies that will continue to make bad business decisions knowing there is no penalty for failure. A business run into the ground just opens doors for other hard working inest competitors. Is it fair to the competition that they play by the rules, invest and grow wisely... and never seem to win? Just some thoughts on all of this.
I am doing research on FreddieMac and Fannie Mae. It is so maddening that this was allowed to happen. Fred and Fan voiced concerns that these loans were very risky, but they were strongly encouraged to make the loans by the Clinton Administration. I found warnings as far back as 1999, that this might happen, and something needed to be done, THEN. But because everything was so rosy, and going so well, Fred and Fran were making money, nothing was done. Again in 2004 another dire warning, and again Fred and Fran brushed off the notion that any was about to happen. Although they were already in finanical trouble and had been lying about their stability since 2000.
I also heard that this started in the Clinton era. The other day Nanci Pelsoi (one of my soon to be screw u 2's) stated that this crisis if from failed Bush management. Bush's spokesperson was very quick to question the press on what regulation Bush had blocked from this (crappy) congress. None... Congress has had this on the plate for over 10 years and once again they do nothing. Now congress wants to bail out big business, but they still will not help us out at the pump. They won't bail us out at the pump because they are too worried about corporate failure, and not ours. I wonder how much money congress has tied up on wall street? Oh, they do something when it hits their pockets. America should be mad!
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