Thursday, September 25, 2008

No bailout, no way

I know this isn't supposed to be a political blog, but I just have to say "No Bailout, No Way".

I like to consider myself fairly self-made. My parents gave me a good start, but they didn't hand me a set life. When I decided to marry my beautiful bride I knew I had to support her, so I joined the Navy in order to provide for my family. In that time we made some mistakes and ran up some bills. Instead of filing for Bankruptcy we put in a payment program and we become debt free next month (5 long years later).

While we were paying off this debt we knew we would be stretching ourselves to buy a home. Instead we rented for 4 1/2 years until we were able to get a Fixed Rate mortgage and live within our means.

Now people are planning to take MY money and reward those people for gambling with their money. Where is the right in this? Let the market correct, let the gamblers lose, let the failures fail, and STAY OUT OF MY WALLET.

It is not the job of the government to step in and save everybody when they make bad decisions. Small government, personal accountability, let me keep what I earn.

Thus endeth the sermon


Omykiss said...

I agree ... it doesn't seem fair, does it?

flleenie said...

I know it doesn't seem fair, but I think to avoid another depression, we have no choice. the companies that are failing arent just regular businesses, we are talking banks & investment firms. Do you know that 65% of Americans have their 401ks & retirement savings in stocks & mutual funds?

I think that if our country (and I mean us) sits back & does nothing, then we will be signing our own death warrant.

btw, Michele sent me

Bubblehead said...

What I love is how often I have heard the phrase "we are in a depression" in the last 2 weeks.

I would love to see the look on the carpetbaggers faces 90 years ago to show them the luxury that even our below average citizen currently lives in. Bailing out AIG will not oput food on my table, it will only encourage more fools to gamble with their money because there will be no risk of loss. Can I get a bailout from my last trip to Vegas please?

Jean-Luc Picard said...

Hands always seem to be in our wallets!

Michele sent me.

Carmi said...

Very nicely put. As I sit on my north-of-the-border perch, I can't stop thinking about the root causes of this mess: Abject greed, rampant stupidity, and a complete lack of empathy because the protagonists only cared about getting theirs.

Conceptually, I'd love to see Wall Street get smacked upside the head and be forced to pay the price. Maybe it'll touch off a more realistic means of managing finances both large and small.

I like your thinking more and more with every word I read.