Quote:
Originally Posted by lookout123
See how that works. Government interference for political reasons causes a problem so the obvious solution is for greater governmental interference.
I wasn't suggesting the government bailing out companies is a good thing, I was simply responding to your statement about giving money directly to the people.
|
Yea, I got that. but it certainly couldn't have been worse. Look at where we are now. Where will it end? At least if the money had been directed to people, the toxic debt (which is supposedly what started the dominos falling) could have been paid off, and regulations could have been put back in place to make sure more of the same didn't happen. (And I don't believe THAT has happened yet.) AND it wouldn't have cost us nearly as much as we have already paid out.
Hank Paulson keeps throwing money at Wall Street, and in the meantime, foreclosures are still happening, which are what caused the problem in the first place. HELLO. Can we address the problem where it began, and not reward the people who allowed it to happen?
IMO, and granted I am not an economist, but imo, it started with deregulation. It has been proven over and over and over ad nauseum that business will not police itself. Business needs regulation, and oversight, and transparency. (and no, I am not letting Congress off the hook either.)
In addition, the HUGE massive salaries that are paid nowadays to executives is also in part to blame, imo, again, not as an expert, but as someone who has been observing this particular behavior over the past couple of decades. When all the wealth is concentrated at the top, it makes the rest of the structure less stable, kinda like with buildings (if all the weight was concentrated at the top).