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Why did taxpayers fund the bank bailout instead of the insurance companies?

  1. ptosis profile image75
    ptosisposted 6 years ago

    Why did taxpayers fund the bank bailout instead of the insurance companies?

    Since that insurance company had to be "bailed out" to the tune of $85 billion?

  2. Zubair Ahmed profile image76
    Zubair Ahmedposted 6 years ago

    Man it's all a rip-off.  The rich are getting richer and drive the shots while the middle class in all parts of the world get squeezed and ripped off with ever increasing taxes.  You may want to read my hub - Americans Go Bankrupt due spiralling financial problems.

  3. peterxdunn profile image58
    peterxdunnposted 6 years ago

    The governments bailed-out the banks on our behalf. We were not given a choice.

    The insurance companies needed bailing-out (I would have let them go down) because the banks had sold them billions of dollars worth of securitized, toxic debt. Many of the sales were actually illegal but - instead of prosecuting the miscreants - they changed the law to keep them out of the clink. Which is understandable - an awful lot of Wall St insiders do serve as advisors and what-not to government and congressmen.

    They are now after your savings and pension. By keeping interest rates down to around zero, with price inflation running at around 5% (its probably much higher) and the value of the dollar (and sterling) falling all the time - the buying power of any money you have in the bank and the final value of your pension is being eroded at about 15% to 20% per annum. On top of this nobody is getting a pay rise. Have a nice day.

  4. profile image45
    debbyrayposted 6 years ago

    Why did taxpayers fund the bank bailout instead of the insurance companies?

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