Quote:
Originally Posted by wig
Here again, I'm curious... when you say this are you simply talking Chrysler / GM or are you talking literally "any" of the bailouts.
I can agree that letting GM / Chrysler fail would have hurt but not been the death knell. But if you mean the whole thing, I'm curious how you would have envisioned it playing out.
Marketsmart is so far avoiding answering the question, resting instead on the vague and simple statement of "i dont fully believe the story that was sold to the people".
I'm not sure what that means or what can be gleaned from that. You want to add something?
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It's not really complex... the bailout did not solve, fix or correct anything, it did however create problems, a trillion and a half worth of them - during a time when we were at war, spending more than we already had.
This also created a stronger monopoly for the banks and wall street firms, basically nationalizing them in micro ways, handing over 95% of the mortgage loans in our Country to a single firm that is fully managed by the fed, while allowing banks to collect more land rights. Basically, the bailout handed our Country over to corps.
Failing would have kept the power in the hands of the people... and let the free market pickup the slack, bad banks would have went belly up and good banks would have picked up the slack, which does happen when corps or industries start to fall, all over the world.
What wouldn't have happened is a major rebound in stocks, it would have taken longer, much longer - if they ever rebounded again. And without those money flowing towards those investments, it would have moved into local markets, like they naturally do, which benefit us much more than any market investment ever will.
It would have been tough at first, and most of us would have probably lost everything we invested... but we crawled out of that heap of a mess, we would have crawled out either way. I like to think the future without corps pulling every string, might be a little better than the shit hole we have to deal with today.