akuma587 said:
Ask Herbert Hoover how well leaving the banks alone worked out.
There is a reason why banks have several extra layers of protection that other areas of the economy don't. People flip out when they feel like their money isn't safe. Why do you think you saw a several thousand point drop in the stock market in the days that followed the Lehman Brothers bankruptcy? If you truly believe the market could have handled 5-10 simultaneous bankruptcies on that scale in the financial sector, you need to have your head examined. Lehman Brothers was the largest bankruptcy in this country's history and single-handedly brought the market down to its knees.
Even Bush and Cheney knew that letting things play themselves out was unacceptable in terms of how catastrophic the consequences would be otherwise.
And I find it ironic that you guys blame the government for causing this crisis but then blame the government for stepping in to fix it. You say that the government is responsible for these banks making these loans but then turn around and say that the banks should take responsibility for what they have done.
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Uh, no. We're calling for the banks to go bankrupt and for their presidents and CEO's to go to prison. How is that not considering them responsible?
What's wrong with a few thousand point drop on Wall Street? Better that with a steady market based recovery than a false market inflated by the government that will soon destroy the remaining value of the dollar. If you want that kind of tax, good for you.
Do you want to keep priting fiat money? Do you want to keep borrowing from the Chinese? Do you want to see the end results of both? You think a few major banks going bankrupt is bad? You haven't seen nothing until see the effects of hyper inflation or a country like China calling in their loans which the government would have to sell off national assets to pay down.
