M-P

Nationalizing the U.S. Banking Sector: There's No Choice

The real issue here, as others have pointed out, is that we really don't want to feel the pain if market forces prevail. The banks made some highly risky decisions and are now paying the price. With reward comes risk - look at the bonuses the executives made from 2004-2007. Tens of millions for making risky, correlated bets on opaque debt instruments and "insurance" products.

Look at the GDP with and without Mortgage Equity Withdrawls from 2004-2007. If we didn't have MEW's, we were growing at 1%. We were living an inflated lie that was a concoction of low rates, negative savings, and materialism. There's only so much you can do about a bad hangover.