US Government considering paying people's mortgages

[TheRealMafoo]

Sardauk said:

TheRealMafoo said:
I love how people want to look at history to solve there problems, but only want to look at some history. The worst economic collapse in US history, happened in 1921. It only lasted a year, because Government did nothing.

http://en.wikipedia.org/wiki/1921_recession

Then 9 years later comes along, we have less of an economic disaster, and government steps in. It lasts a decade.

Why do you then think we need Government to fix this problem?

In Europe we had to... otherwise (thanks to the big failures of our American friends... and our financials iditios who bought those toxic portfolios) our entire banking systems would have collapsed or being taken over by foreign organizations...

No banks-no credits, no-credits-no economy and tons of business goes bankcrupt... 

Our governement saved some banks to minimize the impact, but our biggest and oldest one got taken over by the French...

In the US, banks weren't failing. Some banks were failing (and some very major). But if they had fallen, not all banks would be gone. In fact, the healthy ones who were healthy because of sound business practices would be doing just fine.

Let the bad ones fall.