An interesting little blog post which compares inflation-adjusted amounts spent on various things in American history versus the current financial bailout.
The entire cost of fighting World War 2 was less than America is spending on saving America's business elite from their own stupidity and avarice.
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2 comments:
Hey Jil,
What do you think of the scuffles in Bankok at the moment?
Mberenis,
I don't think that anybody, be they a multi-billion dollar corporation, or a single household should be looking to the government to rescue them from their bad decisions or financial obligations.
Saving people from destitution and starvation should be the role of the government, but merely saving people from themselves and the consequences of their poor choices most certainly should not be.
If you personally think that people who purchased a home they could not afford, with a mortgage that they knew they couldn't pay, in an unfavorable economic climate they knew was coming, should be helped out of their situation, then by all means feel free to write them a check yourself, but as for the rest of us who are being forced to shell out $15,000 each for this fiasco, excuse us for not thinking that encouraging more people to turn to the government to solve their problems is a good thing.
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