Nebs said:
I find this whole thing sad. Everyone is like, “omg how do we fix it!?” The banks lent money they didn’t have, and then it wasn’t payed back and they went under. I’m no economist and I understand what needs to be done. Giving them a trillion in taxpayer’s dollars is just making the problem worse. All that needs to be done is people need to start living within their means. Instead of trying to buy a 400k house, buy the 200k one you can afford. Some of the banks didn’t even check if people had a job, they just believed them. Those banks should be gone from the face of the earth now, but guess what, they’re using our money to buy random *edited* and live extravagantly. If this trend continues it’s goodbye usa.
There’s nothing wrong with banks going under. It’s a natural process in a free economy. Any interference leads to government control of sections of the economy and, as we’re now seeing, it’s a slippery slope that leads straight to government ownership of large sections of entire industries. I mean hell the government owns as much as 40% of some companies, all it takes is Obama to change the bailout agreement, which he’s already done once, and then the government magically has voting rights in companies. That’s a scary prospect but one that’s not too far off if we keep down this road.