Laid-Off Workers Hold Sit-In

Um, No ... :laugh: :thumbs:

And the more loans go into default. If the company had the money to pay the loans back, they wouldn't need the loans. Taking out loans in the name of a failed company is stupid. You and I, the taxpayers, will pay these people. Now, I want my vacation pay and severance from you. Will you pay me? Will you ask BOA to make me a loan that I can't pay back simply so I can pay my vacation and severance?

This whole thing is stupid. And the bank is being bullied into it it sounds like.

 

The unconstitutional money should have never left congress to begin with. Maybe this unconstitutional money should have gone directly to people like this. It seems it would have done more good. The banks are holding on to it and building bigger banks. How in the world is that helping the economy. Fact is its not.

 

You are hitting several different issues here.

First, the money should have never left Congress, but the difficulty is in finding real alternatives. I have talked to several financial advisors who have all said essentially there was no choice. The government was the only institution big enough to bail out these problems. To let them go unaddressed could have had drastic melt-down consequences. I don't like either idea, personally.

Second, it may have done more good going directly to people, but to whom? The size of this bailout could have probably gotten everyone out of doubt overnight if it were given to individuals. But that doesn't help companies. So is is more complex than that. Companies with multi-million dollar facility and manufacturing liabilities won't be helped by you paying off your house.

Third, there was not enough oversight of what it could be spent for. It should not be spent to buy up other banks. But thanks Congress, it is.

So there's a whole passel of problems. There is no good way to solve this.

 

Regardless of the outcome we should never handle things contrary to the constitution. And we do not really know nor is there any evidence that the bailout of the banks has had any effect.

 

I am not disputing either. As for the effect, there is really never any way to know because you never go down the road to find out.