[Vision2020] Why are we bailing out all these large corporations?

[lfalen]

I am inclined to not bail them out. 20 0r 30 years ago Chrysler was on the ropes. I was opposed to bailing them out, but the bail out mony was paid back, We can only hope that it will be in this case. The CEO's of these companies and the people who took out the loans are the main ones responsible. I have very little sympathy for them. If it results in a crash of the entire system, a bail out may be warranted. In any case this problem started under the Carter Administration that advocated making loans to low income people that may not be able to repay the loans. This should now be rectified.
Roger

-----Original message-----
From: Paul Rumelhart godshatter at yahoo.com
Date: Sun, 21 Sep 2008 16:59:05 -0700
To: Vision2020 vision2020 at moscow.com
Subject: [Vision2020] Why are we bailing out all these large corporations?

> If a large corporation is about to go bankrupt because they loaned money 
> without proper collateral behind it and without a determination that the 
> person taking out the loan could reasonably pay it back, shouldn't we 
> let it crash and burn?  Isn't that what is so casually referred to as a 
> "market correction"?
> 
> I've heard it stated that there is something different about this 
> situation - it's more dire and it could have a snowball effect on the 
> rest of the economy or even the globe.  Does anyone here know enough 
> about this to explain that?
> 
> What is so important about this situation that would result in the 
> necessity for an Iraq War-sized expenditure?
> 
> Or is it a case of the rich looking out for the rich, which I'm 
> half-tempted to believe is the case.
> 
> Paul
> 
> =======================================================
>  List services made available by First Step Internet, 
>  serving the communities of the Palouse since 1994.   
>                http://www.fsr.net                       
>           mailto:Vision2020 at moscow.com
> =======================================================