Originally posted by: Vic
Originally posted by: LegendKiller
Originally posted by: JS80
You obviously fail to understand LK and others' view - he is not defending the banks that went 30x leverage and screwed us all over - he is simply making the analysis that, give this has already happened, and you have two choices ("bail out" vs let them go broke), you have to choose the lesser of two evils to prevent a complete meltdown of the entire system.
Your position is simply based on wanting everything to fail because of your disdain for Bush.
I have tried to explain this situation many times over. However, people like PC Surgeon have a very hard time in understanding the logic of having to deal with the present and then trying to fix the past in the future.
I think they want everything to fail because they aren't intelligent enough to realize how to fix the problem.
It's akin throwing the baby out with the bathwater because you can't figure out that picking up the baby and moving it is a more logical technique.
I'm sorry, but there is little more anti-capitalist in attitude than this belief that a private for-profit corporation is "too big to fail."
It essentially takes all the risk out of the system. And then you wonder why these huge institutional investors make these irrational decisions that they do... it's because they can't lose.
They pocket huge profits in the boom, then get bailed-out in the bust.
So it's not that anyone wants to throw the baby out with the bathwater so far I as know, it's that we don't want to keep reliving this shit over and over again for the rest of our lives.