 Originally Posted by Skippy911sc
Letting them fail would throw the entire world into a depression. Last week Banks stopped lending money to each other...or anyone else for that matter. When the credit market freezes the world will freeze...no credit cards...no mortgages...no short term credit for business to run. This would be tragic for everyone. They need to act, this might not turn out to bad for the govt.
They need to install or re-install regulation on the system including credit default swaps, which have none. They need to change the method of marking to market...I know it works in Europe and if it had always been there it might work here, but to just make them do it was wrong and threw a monkey wrench into the process. They need to act and they will, but hopefully the ceos will not prosper by this, but take responsibility.
Originally Posted by DjfunkmasterG
As most of you know, the US is going through a economic crisis that is matching the fury of the Great Depression of the late 1920's and early 1930's. The US Government wants to bail out the fiscally irresponsible, only to do what... Let it happen again. However, I agree iwth Ron Paul on the matter, without the vulgarities he has pretty said, ****'em and I agree.
Now, I normally don't always agree with the republicans, any republican for that matter, because frankly they are the most fiscally irresponsible political party (See Bush Administration 1 & 2). Now, I find myself in a weird spot in that I agree 100% with Ron Paul. Personally I think he is a democrat masquerading as a republican, but thats a whole other argument. Ron is correct, let these guys fail. They took risks, high risks and jeopardized themselves, bailing them out will only allow this kind of behavior to continue and possibly produce another fiscal disaster, or possibly worsen the one we are already in. Over a year ago, the economy showed signs of trouble, but the Fed and the Administration shrugged it off. We were in a recession then, but no one wanted to say that because if Americans don't spend, then we you have financial collapse, it took the crisis with oil prices to really put a wallop on the system. Gas Prices in the $4+ dollar range forced americans to rethink their daily habits, and in turn everyone at one time just cut back at once, which threw the financial system into turmoil. Turning things upside down.
CNN's Glen Beck hit the nail on the head when he said "as oil goes down, the economy is gong to crash." Oil drives are economy more than any other single resource. Without the global market, it all comes to a complete halt. If you can't fuel your fleet, to distribute and transport your goods, it is just a matter of time before the economy comes to a screeching halt, and crashes.
So to this I agree, Let them fail, let them learn lessons from this debacle, and then rebuild themslves in a more fiscally responsible manner. Why should I, John Q. Taxpayer, be burden with paying off the debt of irresponsible people. You got yourselves into this mess, now get yourselves out, and learn the most valuable lesson... Greed Consumes us all.
First off the system sucks. The case has always been that the rich get richer and escape accountability. While we get sh8t and have to shoulder the finacial burden of our elected officials screw ups ( see Iraq war ) How can I get into that business? Let's see, i get all of the reward and assume none of the risk. If we go under the tax payer foots the bill. Damn, where do i sign up for that one?
As is always the case when a system just doesn't work anymore.( see two party system ) Do you really think those in power are going to give it up? The only way to replace a system is if the old one dies or is killed. You can't have a new king if the old one is still alive.
it's like getting the flu. Sure it sucks and you suffer but when it's over ypur better for it. Your immune system is stronger and you dropped a few pounds. And we could sure cut some excess weight around here. 
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