
Originally Posted by
Franco
Sambo, I would say that they have you fooled. Just like the Debt Ceiling scare tactics they use to raise the Debt Ceiling.
In case you missed it, most of the smaller community banks were solvent during the bailouts. It was the big banks run by greed that caused the problems. Those with good credit could walk into any community bank and get a loan during that time. I know, because I did!
Franco and I in perfect alignment......on the FACTS!!!!!
I do think scare tactics are a huge part of the tail wagging the dog. The politicians use it TOO often. .
I do not think our world would be turned upside down if GM were allowed to fail. Perhaps the UAWs world, but not the entire world.
The banks may have been a different story, but I know I make a lot of money off of a few of those banks.... and I'm kinda glad they didn't go away. Although, I'm pretty sure there would have been another bank ready to step in and take the wheel.
I see the bailouts a lot like the war.... tons of money spent on what we now know were not WMDs.... but who would have done it differently? The nation was screaming for revenge after 9/11....and both sides of the aisle were anxious to provide it. Then, the cry came out to help the banks, the cars, the insurers..... both sides of the aisle seemed ready to help. Now, looking back, letting a few fail and a few make it? ... well, who gets to play God in that scenario?