I agree. I think we HAD to bail the banks out, we would be in a much worse spot than we are now if we didn't.
Insert by META: I never said that we had to bail the banks out (although i'm not necessarily disagreeing). I said that the banks are only somewhat at fault, because we have inefficient regulation. A bank is supposed to make money, while providing a service. They made money, and provided a service. The problem is in the system that allowed the banks to make decisions that, while predictable, were very detrimental to our economy.
We offer guns to the public, but if someone commits a murder with a gun, is it the guns fault? The guns have safety's on them don't they?
Just because you can make an analogy between guns and loans, doesn't mean you should.
The only thing I can agree with is 'I love Capitalism', what you speak of is not capitalism whatsoever, and its definitely not free markets.....When the government intervenes and enforces regulations thats not free or fair at all...Keep in mind, enforcing regulations and prosecuting criminals, BIG DIFFERENCE. You seem to love all the things that make us corrupt and not free. Pretty twisted. I totally disagree with you.
This is one of my two favorite comments so far. Thank you, deprave, for this opposing response. I look forward to having a civil back-and-forth with you. To respond to your post, I most certainly do speak of capitalism. Capitalism is not necessarily an unregulated, lawless market. Capitalism is a complex term that can only easily be explained with a simplified definition. A regulated free market economy is still a free market economy. Would you disagree with me when i say that it is useful for the government to intervene in a case of negative externality? That would still be regulation/legislation/taxation.
we didnt have to bail out anyone or anything, the market would have self corrected and we would go thru a few decades of crap and come out so much further ahead than where we are headed now.
Maybe, but how can we be sure? Do you really want to spend a few decades with a seriously hampered world economy?
you have to fix the problem you can't just throw money at it..bailouts will be needed agan and again...as long as we keep letting them get away with it bubble after bubble. Virtually nothing has been done to fix the problem. Free markets don't play favorites.
Based on the comments that i bolded, I don't think we disagree completely. Im just curious what you think the problem actually is. I underlined one other sentence that interested me; Favorites between who? Also, I found the video very interesting, although I would be more confident in its accuracy if it contained more than a single, highly specific source. I havent written the video off as fiction, nor do I trust it as fact. I need to see additional sources to be swayed either way.
Sorry for the text block.
