You Fail, We Bail

Wasn’t what the government did concerning Bear Stearns supposed to stop the imminent collapse of the financial empire? For too long now the fear card has been played. “They” told us that if the government didn’t step in and throw some money around the house of cards would fall. And it will trickle down and effect YOU. Why can't the government come up with a better motivator than fear? Time and time again the government has stepped in and thrown unprecedented amounts of money around, and the house of cards is still falling down. Couldn’t they have saved a lot of money by simply doing nothing? I personally don’t care if all the investment banks fail. They don’t have any of my money. I don’t have enough to put any there. They cater to the rich and powerful. Let the rich and powerful deal with this mess. Leave the average American taxpayer out of it.

From Looks Like I Spoke Too Soon by Jeffrey Stingerstein:

No sooner does the federal government show some sensibility by not bailing out a failing company, then it shows its stupidity once again by bailing out yet another company. What the hell is wrong with our government? One bailout after another using tax payer money and it isn’t getting us anything. Is it getting us a sound economy? No! It’s getting us a delayed crash. All these bailouts are leading to one thing, more irresponsible and risky behavior by already imprudent businessmen. First these guys get tax cuts, now they get bailouts. Why not just hand them the US Treasury Department and say, “Hey, take whatever you need. We’ll just borrow more from our enemies over in China.” This is getting utterly ridiculous and I can’t imagine how this could possible be doing anything good for our economy in the long run. What a lesson to learn! You fail, we bail you out!