Have you heard of what Bernanke and Paulsen want to do? These morons want to spend $700 billion of taxpayer money to bail out suffering banks. Out of context, this might get the impression, “Oh, well, that’s expensive, but it’ll fix–” No, shut up. You are the reason we have idiots like this in our government.
These banks are suffering from their own predatory practices! They mislead customers to believe that they could afford loans that they couldn’t really afford, so that they’d get more money. And now they’re suffering because customers can’t pay them back? Too bad! Why should we reward them for being greedy and misleading?! It’s their own fault. This is, though it may not be clear to you, an example of the government FLIP-FLOPPING.
Banks were only able to mislead customers like this because of decreased government involvement in financial matters. Now, when the banks started suffering because of the greedy, misleading things they did, the government flip flops to increased government involvement in financial matters.
If we have to change to a fiscally liberal perspective, fine. But why are we bailing out the banks?! This is just about the stupidest kind of bail-out imaginable. It’s like this…
Bobby the Fifth Grader offers Elmer the Second Grader $20, on the condition that Elmer gives it back to him in a week. Elmer says he doesn’t have $20 to give Bobby later. Bobby bullies Elmer into taking the $20. Elmer spends it on something for the entire family, like a potted plant or something. Then Bobby demands his money back. Elmer says he doesn’t have it, so that nasty little kid Bobby keeps charging Elmer more and more until Elmer owes Bobby $100. Elmer says that he still doesn’t have it and Bobby screams and runs off, wishing he hadn’t forced Elmer to take that $20. Bobby then cries to his mother that Elmer owes him $100 and won’t give it to him. His mother then gives Bobby his 5-year-old triplet siblings’ allowances for that month, and some extra, amounting to $100.
The result of all this? Bobby has the money that Elmer owed him (at the expense of others), but Elmer still owes him money.
This is exactly what would come of the retarded plan proposed by those idiots Bernanke and Paulson. The banks would have the money that their customers owe them, but the customers would still owe them money. How in the name of the FSM is this fair at all? The banks shouldn’t be rewarded for predatory practices like this, especially at the expense of the taxpayers!
If we’re going to bail out anyone, it should be the customers of the lenders, not the lenders themselves!
These lenders need to learn a hard lesson about fiscal responsibility… Lying and bullying are not acceptable from giant corporations and if we give the lenders this bail-out, capitalism will not work in America. End of story.