Frankly, no one should be bailed out from anything. Companies who willingly committed fraud in screwing up our economy should not only not receive any taxpayer bailout money, but should be prosecuted and imprisoned. Debtors who willingly entered into mortgages and loans they could not afford to pay off should be allowed to realize that they made a mistake and that mistakes have consequences. Those who deceived people into accepting those mortgages and loans should be forced to give those people every dime of their money back, including the interest.
Bailing out anyone in this mess will only promote the continuation of our failing credit-based economy, when we should be demonizing the massive use of credit. We are not going to fall into a depression if people or companies don’t get bailed out, but we almost assuredly will if those most guilty of damaging our economy are allowed to continue with the full encouragement and financial support of the government.
I don’t know why anyone thinks that giving a metric fuckton of money (my money and your money, not just some money that’s sitting around) to the people who fucked up and got us into this mess in the first place is going to get anyone out of this mess.