2008-10-09, 10:33 PM
What i find interesting is that so few people seem to be thinking in the large scale with the bail-out. Oh, im going to have to pay a lot more in taxes, woe is me. Sorry if it bothers you, but i think with the economy just in horrible condition (again, not our fault, but the long time fault of those elected into office) Most dont realize how huge of an effect that these companies failing would bring to the economy. My economics teacher constantly quotes former fed chairman alan greenspan's comment years ago that the deregulation "created industries too large to fail" and then adds the point that thats true, Because if we let them fail then the results would cause such a huge ripple in the economy, we might have to deal with another depression.
Of course, that doesnt mean i support all this spending, i just dont see another alternative. Its giving them money for screwing up, and for screwing up in such a way that they could cause irrevocable damage to the american economy. But its better than the effect of such large organizations tanking.
Of course, that doesnt mean i support all this spending, i just dont see another alternative. Its giving them money for screwing up, and for screwing up in such a way that they could cause irrevocable damage to the american economy. But its better than the effect of such large organizations tanking.

