Why not bail out businesses and savers instead of banks?

I think what should have happened is the banks that went under and got bailout money should have become government owned.

I think its exactly the control the banks have, when THEY cause the market crash, get bailed out, and get to do whatever the fuck they want again.

Meanwhile, GM, who crashes BECAUSE of the financial meltdown, gets scrutinized by the senate like crazy, then bailed out, and controlled by the government. (And they paid that debt off and are private now again....I wonder if the banks did that)

edited 30th Jun '11 2:58:09 PM by Thorn14

Yup. But there's no way that would have happened because too many people (who mostly criticized the bailout for whatever reason) would have screamed bloody murder.

The real problem is that there's far too much investment money chasing too little actual value, and it's a massive bubble. (That still isn't deflated) Which is why I fully support a financial transaction tax and normalizing capital gains taxes. (I'd even trade a higher capital gains tax rate for lowering the tax rate on dividends)

Let's not forget their outright mortgage fraud.

Robo-signers ahoy!