I don't know all the ins and outs of the $700 billion dollar bailout plan, but the realist in me sees it as another way to stall the consequences of greed and selfishness. And now with the "Big 3" auto industries standing in line with their hands out it seems like a potential can of worms ready to explode as more and more failing businesses stand in line for help.
I am sorry we are in a deep recession (which sounds better than the actual depression that it is). I am sorry that businesses are failing. I am sorry the bottom fell out of the housing market. I am sorry banks are failing.
But I think individually and collectively we need to learn a hard financial lesson on how to manage money and the bailouts will only postpone the inevitable accountability that always accompanies choice.
10 comments:
I totally agree Jordan. Well put.
Seriously. Jacob and I just shake our heads when it comes up. At some point, people need to realize that banks, industries, Wall Street, and personal finances are all failing because the American people spend when they don't have money. It all comes back to greed.
I'm with you Jord. I don't know how it will all end, but I think we're all in for some rough times ahead.
Interesting observation as to the "inevitable accountability that always accompanies choice." Those are true words, and I think that they are and will come home to roost in this economic situation. We can't always save industries from those choices. Good post, Jord.
Amen sister! No one is going to learn their lesson until there is a consequence to their actions.
I think they should appoint Mitt Romney to do what he does best and take the big three, make them private for a while, and make them functional and profitable again. I see it as the only "good" solution.
Anyway, if the government continues with their bailouts and they want to keep handing out free money--I am going to get in line and see if anyone will bail me out of my student loans. Seriously, it would only be a small drop in the bucket. If they are helping out everyone else in the world--why not me? :)
I agree and I don't understand how other people don't see it that way as well. I looked at a house the other day and the realtor (it was still a rental) was going on and on about how as soon as Obama is in he'll create programs and blah blah blah and basically save the world. She was totally serious too. She really believes he's going to save us all. Wha?? It will be interesting to see how this all turns out.
I loved how the Big 3 automakers flew in fancy private jets...each one of them from their private fleet, to ask for a handout. I know...sell your jets and live like the rest of us! The audacity of these people living the high life and then expecting us to pay for their poor decisions kills me. I heard on Glen that some of the lame AIG people had another fancy hotel stay and signed in under other names so no one would know what they were up to. Incredible!
I'm glad others are not so fond of the bailout plan either. The most ironic plan: that a government with a huge national debt is offering to bail out its citizens and companies! There is something definitely wrong with that.
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