It is Adam's Smith worst nightmare. It is Karl Marx's wet dream. Neo-liberalism has failed us and caused a massive economic slump. De regulated banks that merged together to form monopolies, and irresponsible loaning that made people believe they could afford homes they simply couldn't. It's capitalism gone wild. Forget what got us here, let's think of how we get out. Government bailout anyone? No thanks. Why should the taxpayer, who is already burdened with losing their homes and not being able to support his/her family be responsible for the federal government's fucked up deregulation policy and the corporations taking advantage of it against their own common sense? There is absolutel no reason, especially when we could have another solution. How about using maybe 1/3 of the 700 billion from the bailout for corporation to bailout homeowners in trouble? And the rest we can all keep. Banks in a crunch? How about extending the terms of the loans they gave out, say if you took out a mortgage for 15 years at 8%, why not extend it to 30 years at 4%? That way the homeowner gets to keep his home since he is able to make the payment, and the bank ends up getting more money in the long run? I am not an economist, but even I can come up with sounder alternatives to bailing out the corporations that got us in this mess with our own money. Can you Washington?
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