If the banks all failed do you realize how much the government would have to cover out of savings accounts?
If the banks failed this country would fail.
Tell me how that would be better than the bailouts?
These morons don't think things thru that far. They are just spewing Rush talking points.
The new one is, "we shouldn't think of bankruptsy as failure, think of it as transparency".
And Ed Schultz made a great point and I have been making it for a long time. What about the people who were promised pensions? It is bullshit to let the companies go bankrupt. THEY ******* WANT TO GO BANKRUPT!!!
That's why the GOP passed bankruptsy laws making it easier for them to do it. And, they made it harder and more costly for individuals.
I think it started with Enron. We were shocked that Enron employees were fucked by those CEO bastards, but what did we do about it? Nothing. So they desensitized us to companies going bankrupt and renigging on those pensions.
Then another company went bankrupt, then another, then another. And do these people realize that the government has to pick up the tab?
Maybe we should re-write the bankruptsy laws so it isn't such an easy option for GM or other companies to make. And maybe we should make the new GM that comes out of bankrupsty pay those pensions.
If they don't want to give pensions, then don't offer them. They can cut their existing employees off TODAY if they want. But anyone that is retired should get what they worked for. And if that means taking out of the CEO's pocket, so ******* be it.
I can only assume this has all been done on purpose.