Quote:
Originally Posted by brentbacardi
Um actually no. If it was left to the private sector, most banks would be out of business and new ones would be taking over that did not engage in risky behaviors. Survival of the fittest works if you let it. Those scum bankers should be out of jobs, not taking down big bonuses on the tax dollar.
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Agreed, letting them fail and not bailing them out (while it would have hurt in the short run) would have been a better solution.
You can't play capitalism "half way". If you want to claim to be in favor of free markets (as BOTH major parties are) you HAVE to let the bad go under. The PROBLEM is that politicians are so afraid of upsetting anyone and loosing votes, they try to have their cake and eat it to. Everyone (for the most part) is in favor of a capitalist system in this country, but if when the banks were failing, the President had said "part of this Capitalism that we all love so much is letting the bad businesses fail and they will be replaced by fresh, hopefully stronger businesses", the voices claiming he was letting thousands of jobs disappear would have been so loud, he wouldn't have survived it.
To bad....people want the fun parts of a free market, but they never want to suck it up in the lean times. And ALL systems have ups and downs. We just been borrowing $ (China) or printing currency through the down times so it looks like we don't have any , HAHAH. Its going to hit a brick wall at some point.