@allfreechips 197084 wrote:
Thats the problem, Goverment needs to get out of the picture and let the economy recover. Saving failing business with cash is a dead end. Spending is the same as you getting another credit card because you cant pay the min on the one you maxed out. Yeah it feels good for a little while but then your twice as screwed later.
I agree 100%. Sometimes reform can only come when the bottom is hit and perhaps things need to be torn down and rebuilt. Bailing out companies that are fundamentally flawed will not fix anything long term, only encourage inefficiencies in our economy.
Here’s an example of the credit problem. I live in California and many of my friends have their homes in foreclosure. My buddies who own multi-million dollar homes are being bailed out will ridiculously low payments while no aid is given to the people with lower valued homes. Many of these guys with multi-million dollar homes have no business owning these in the first place and got in way over their heads. To me, this just encourages irresponsible spending.