Quote:
Originally Posted by aceventura3
It is increasingly clear that Obama, his team, and Congress are clueless in terms of what is needed to fix the economy. The continued bailouts are starting to become a joke. Sure, an insolvent corporation will ask for a bailout, that is predictable, but smart money does not throw good money after bad money. Clearly there is no "smart money" people in Washington these days. If they had simply let the bad banks, bad hedge funds, bad Auto companies, bad homeowners, etc, fail and file bankruptcy these companies/people would be well on the road to recovery by now. but they are not and they are a continued drag on the economy.
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Though I agree whole heartedly that smart people do not throw good money after bad, there are two MAJOR things wrong with what you are saying:
1) Singling out the Obama team implies that the Repubs would have done anything different
Bear in mind they initiated the bailout
It's standard Repub protocol to prop up and support big businesses, regardless how detrimental it is to the common man
2)Absolving debt where it was rightfully placed places a strain on the economy in the exact same manner that keeping these failing business afloat does. You're essentially saying that chair is better than chair, when chair is, in fact, still chair.