Should the Bail Help the very people who are paying for it?

[JS]

I am disgusted by the Bush administration. These idiot banks should not be bailed out! Whatever happened to "free markets"? Free to reap profits but not losses? Come on!

Banks who bet the farm on risky loans should be made to suffer the consequences. Otherwise us taxpayers will lose $700 billion and there will be a never-ending line of businesses wanting bailouts because they made poor decisions.

:down:

 

[boxer]

I am disgusted by the Bush administration. These idiot banks should not be bailed out! Whatever happened to "free markets"? Free to reap profits but not losses? Come on!

Banks who bet the farm on risky loans should be made to suffer the consequences. Otherwise us taxpayers will lose $700 billion and there will be a never-ending line of businesses wanting bailouts because they made poor decisions.

:down:

....and the airlines will be first in line (again).

 

[Cosworth]

I am by no means a financial genius but my guess is that if we let the banks fail the ripple effect will be wide spread. Just like if the auto makers go belly up (which I would love to see) the effects would be wide spread. Aside from the all the labor from just the auto makers you then kill all the suppliers as well. Glass, leather, vinyl, window actuators, gauges, tires, wheels ...... can you imagine how many hundreds of thousands if not millions of jobs that could/would be effected?

The foreclosures took about $20k off the value of my home. Fortunately I am not looking to sell any time soon. Do we let them all take a bath and make innocent home owners suffer as well? Not like I bought in LA and shy high prices. I have been here in TX for over 10 years in the same modest house.