Sunday, March 16, 2008

Who is the next bailout target?

Chris in Paris , Just how much money do these freeloaders want from taxpayers? The previously pro free market crowd is now calling for bailouts, hand over fist, because we just can't have a domino effect. Sure. Great. Perhaps. But where was all of this concern when they were raking in billions in fluff? Everyone made their healthy commissions, bonuses flowed and lobbyist money kept the wheels of democracy running. Why are we now supposed to spring into action to bail out a system that they all wanted?

The worst of this bailout is that the US government is committing so many billions without even debating where the money goes or who is it helping. Are we now picking up the tab for Wall Street bonuses? Let Wall Street pay back the commissions and bonuses that were based on this trash and then let's talk. Their excuse is that they need to retain the good people who weren't part of the problems. Frankly, I don't care. The management made these problems and even today, we have Prince (Citibank), O'Neil (Merrill Lynch) and others who walked away with tens of millions all based on buying and selling trash. Let them pay it back and let's ask for all of the money that others made on selling trash and then let's talk. If they don't want to, fine, but don't ask for more money. Why are we giving bailout money without debate?

LSB: Emphasis added is mine.

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