Do Americans feel that it is right that the banks should receive welfare payments?
American banks are surviving on tax payer funded welfare handouts from the state. What happened to Capitalism? Under the Capitalist system failing businesses should be allowed to fail. Why should the banks be treated any differently? It has also been shown that the banks have repeatedly broken the law - by lending out money that they should have held in reserve - yet, instead of prosecuting them: like they did in Iceland, the American government has simply changed the laws to suit the banks. Who is running America? How many Americans voted themselves into trillions of dollars worth of debt?
I am an american and I do not believe that undeserving people or businesses deserve hand out... yet here we are. In the midst of the cluster mistakes of so many companies, we are faced with the challenge of funding businesses that hold up our economy. Yikes... how did we get in this mess anyway?
Greed, short sightedness and the lust to get ahead quick... goodness, this is a problem. So, the undeserving banks got money and we will be paying until we die for the mistakes of the past. Should businesses be held accountable? You bet. Should our government have challenged the banks decades ago? Yes.
Are we now faced with making our government hold these companies under a microscope for the next decade to ensure they pay back the tax payers? I hope so.
No it isn't right but corporate welfare is nothing new. In the 1980's, thanks to President Reagan, we all had to bail out the car companies and that's not the only time. America may not recover because corporations along with too many politicians, act like a bunch of looters now with American taxpayer's money. They have a 'smash and grab' mentality, much like looters when they smash windows and grab goods and run. Only with corporations, it is American monies they are looting. Good question. So companies have 'smashed and grabbed' and have run to foreign countries to exploit yet more people for low wages.
i think what is happening is people are starting to realise that capitalism doesn't work and the process is quietly being changed. i personally think capitalism is nothing but a license to be corrupt and greedy and it's biting the US in the butt. no matter how one explains it, bailouts are against what their system is suppose to stand for and if we dug deep enough i'm sure there are many more examples of this kind of welfare. the worst thing is that these bailouts were given even though they were voted against.
I don't know of any Americans who agreed with the decision to bail out the banks. However the people we trusted and voted into office made that choice for us along with other forced decisions that are being fought and turned over.
In response to the poor decisions our leaders made, more and more Americans are paying closer attention to politics (myself included) because our economy is in a near collapse.
We cant afford to bail anyone out...we can't afford Obama's "change" and it scares the hell out of most Americans that China pratically owns us.
The bail outs are only a fraction of what is ruining America. There is a very long list of wrongs that need to be made right.
My questions to you are "what do you think is ruining your economy"? Americans sometimes look at England as an example of what may be coming our way. Do you feel that immigration is a problem like some here do? Do you think your welfare system has burdened your country? Do you have a large muslim population and do you fear muslims? I hope you don't mind my curiosity.
Finally, who IS running our country??? I don't have an answer for that because I don't know who is REALLY in charge. It's not the President that's for sure.
It is absolutely not right. Banks are private industries and reap their own benefits when their system works. When their system fails, it is not right for me to pay a portion of their bailout. I am legally required to pay taxes and I am not being represented when those funds go to pay for a private business that has failed.
There is talk amongst folks and pundits about how America is becoming socialist, when in fact, it is already pushing hard towards fascism. Corporate America influences the rules and the bailouts bluntly break the rules.
Former President Bush began the bailouts and should be tried legally. Obama followed suit and should be tried as well.
Both have sold out America (along with every president since Reagan). This 30 year trend MUST stop, but Democrat or Republican, we get fascism either way.
Unfortunately, the government had to help the banks out of a hole. The bank's money is so interdependent in keeping our economy stable. If the banks fail and close, it would break our economic system. We are dependent on our money system to survive...Sad thought and scary.
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