Banks have gained record surcharge fees not because the customer made mistakes but because the bank manipulates its policy governing these fees. Who does this effect? not the millionaires just the every day Us. citizen. There was no greater damage done this economy than by banks and there greed and it continues the government gave banks billions of dollars to help the Fords,GM,and Chrysler they choose to use the money to cover up their creative money management.Why loan money when you can manipulate policies to make millions dollars on the poor and struggling without being at risk.Ford ,Chrysler and GM offers hope in the form of a job.Business is bad when banks are making more money by surcharges than offer you a 10,000 dollar loan per year without risk.
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I have a mixed opinion about bailing out a bank. It makes me a bit sick but I can see the need for it.
The Auto makers are a different story. Its not mismanagement that is hurting them, its lack of sales. If we give them billions of dollars it won’t change the fact that cars are not selling. So we pay them to make more cars that still don’t sell? Eventually they will sell because the price will get lower. But the labor cost and material cost are not getting lower if we bail out the automakers. So you will have a car that cost 20,000 to build selling for 10,000 and whether you buy a car or not, you will pay for it indirectly through the devaluing of the American dollar.
Throwing money at the auto makers is not the solution. Its a temporary reprieve at best. It makes the same amount of sense to just give the money to the public and hope they buy a car.
Because banks own the federal reserve, and the government. Banks own everything, including us.
They will also bailout the Car makers. Give it time. Now, the reason they bailed out the banks so quickly is because all the US citizens have their money saved in these institutions, and if those institutions fail, you probably won’t see your money again.
i think we oughtta flush it all down and start from scratch like in fight club
If the Banks fail people would make a run on them and that would not be a good thing. As far as the automakers I don’t see the bailout working the companies have been in trouble for years and i don’t see how getting government money is going to change that.
Re: "US citizens have their money saved in these institutions, and if those institutions fail, you probably won’t see your money again."
Not entirely true… That’s why banks have to be FDIC insured The FDIC will cover upto $150,000 for customers of a failed bank… Now how many of all of you have over $150,000 that would be lost should a bank go under?
Anyway this is why the FEDS started taking over banks that weren’t in compliance with them. E.g. IndyMAC, Washington Mutual, Freddie Mac (by the FHFA) etc.
This collapse of free-market capitalism marks the end of US style free-market in the world. The world I predict will go back to (at least) a semi-Government controlled system around the globe.
The experimenting with countries is over…
BAILOUTS=HANDOUTS..if they bail them out the ceo’s should do time.brake up the union,pay a good wage,and put out a good product.then they wouldn’t need a bail out.and remember bill clinton told the banks they had to loan money(the banks) to ppl who couldn’t pay it back.send slick willie a bill.its all on him..and its gonna get worse..yes i said the banks trouble is ALL bill Clinton’s fault.