The Paulson Bailout Plan Has Been Tried Twice Before...And Failed

Discussion in 'Politics' started by KenH, Sep 24, 2008.

  1. KenH

    KenH
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    People are Asking the Wrong Question


    All discussion about the proposed taxpayer-funded bailout of Wall Street banks is centered around the idea of, If we don't bail them out, they will fail.

    It seems no one is asking a much more important question of, "Will this bailout do any good?" Or to take this one step further, "Will this bailout do more harm than good?"

    We badly need to consider what history teaches us before we repeat the same mistakes all over again.

    ...

    There is a term for this: throwing good money after bad.

    The choices we face today aren't between bailing out the banks and not bailing out the banks. The choices we face are to uselessly waste taxpayer money trying to bail out banksters, and failing, or to try an entirely different tactic of repairing the balance sheets of the taxpayer instead.

    Unfortunately no one in Washington is offering to do the latter.

    - rest at www.economicpopulist.org/?q=content/people-are-asking-wrong-question
     
  2. LadyEagle

    LadyEagle
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    For once we agree on something, Ken, even though we are nobodies and the people "we" elected are sticking it to us once again:

    No bailout. Let the chips fall where they may. I'm angry.
     
  3. KenH

    KenH
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    This morning on C-SPAN's "Washington Journal" even Senator Coburn, who is as conservative as anyone, said that he will reluctantly go along with a bailout package.
     

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