Wall Street Worries
Sure, there are probably people who shouldn't have been given home loans, and no, government shouldn't always be the solution for bad judgement, but the latest fiscal crisis is so much more than just a few bad loans to people in no position to repay them. There has been a massive deregulation of the finance industry by the same folks who have brought us privatization of almost everything.
Now, people by the score are losing their homes, their jobs, and their dreams, and all the government can do is defend executive compensation for CEO's of bankrupt firms? And oh, by the way, in case one is not that good with powers of ten, the $700 billion price tag is on a par with the cost of the Iraq war. So, it's not like I don't want the government helping us out, I mean, that's what government should be doing, right? But...do I trust the current regime with that many zeroes? I just don't have that kind of faith.
I will say that the potential is here for the biggest heist in history. Shall we give them a blank check?