If a person cannot make his house payment, too #@&*# bad. Let it go to foreclosure. If a bank made too many bad loans, let it go bankrupt. That is the old way.

Richard, if these were good times, and a bank made bad loans and got into trouble, then yes, I would say let it fail. But we are in trouble here. Businesses run on credit, and its hard to get credit from banks right now. Businesses use this credit to make payroll and pay their bill, if they come up short some month. When the credit dries up, it threatens a businesses ability to function. How long would you work there while waiting for your boss to, “Save Up” so he can pay you? We cannot let the major banks fail, not right now, not during this economic crisis. The ripple effect will reverberate through out the entire economy. Right now we need to hold together what we have and stave off further deterioration. Can you imagine what the economy would look like after the failure of the major banks, the auto industry, AIG , ect? The economy is so interconnected. A layoff at GM, hurts the local Detroit 7-11, lost business at 7-11 results in smaller orders from 7-11’s suppliers, and on and on. That impacts the trucking industry, that delivers the goods, which impacts the truck drivers ability to buy a new car. What goes on in Detroit, or some major bank can affect you in direct and indirect ways.

Now is not the time for corporate tough love. Now is the time to plug the holes in the ship before it sinks. I hate the bail outs too. It pisses me off. But unless you are ready for a potentially radical way of life, {Kill your own food, collapse of society} then just accept the fact that we have to hold together what we have.

Mark, this round of bailouts and stimulus package could very well destroy the dollar. See, our money is backed by nothing. So the Federal Reserve can create as much of it as they want. But the trouble with that is, that when they do, they dilute the “value” of the money already in circulation.
Example: If there are 10 trillion dollars in circulation, and lets pretend that each dollar is actually worth $1.00, and the Fed dumps another 10 trillion dollars of currency into circulation, now there are 20 trillion dollars in circulation, but each dollar now has the buying power of .50 See how it works? They have done just that so many times over many decades that our dollar is now worth about .04 and dropping like a rock. What do you think will happen when it reaches ZERO? Thats right. A dollar collapse. Printing money without taking money out of circulation, like they do through federal taxation, results in INFLATION. Prices appear to rise against the dollar.
So all this new money for the bail outs and stimulus is being printed and dumped into circulation. They only way as far as I can tell that President Obama can make this work, is to remove the money little by little as the economy picks up. That would hold down inflation, and help the dollar.
We’ll see what happens. I hope it works. I just bought a rifle and thousands in gold. Planning for the worst, hoping for the best.

Jason

Bottom line: Limited government per the Constitution is OUR right. We the people” ARE the Government….they represent US….. NOT themselves!

Keep writing Congress daily and remind your Reps of that fact!
http://www.congress.org/congressorg/home/

The only Fed expenditures should be for National Security and Infrastructure per the Constitution! Most people don’t get the fact we should not be spending all the other monies at all. We need a FAIR TAX system ASAP, get back to States jurisdictions and eliminate all the excess FED Dept of Gov that are unconstitutional. Health care back to the providers – the doctors [not the insurers, lawyers or Big Pharma]