johngonole

What CIT's Troubles Really Mean

A CIT bailout will be just another socialization of other people's bad debt. This will allow those who had bad debts to take on more debt and then hand it to me. Some are getting filty rich with this process.

If we would just let the bad banks fail (with FDIC only bailing out the depositers) control would taken away from the bad decision makers. Meanwhile those left standing increase market share grow larger and hire new employees. Thus unemployment stabalizes. Resource decision making is left in the hands of the wise and responsible.

The current system with bailing out all financial failures has resulted in an elite upper class who believe they were born into the privelige of running other peoples lives. They can only succeed. Failure is rewarded with a new job with big bonuses so they can repeat the same failures over and over. Meanwhile the average taxpayer is being saddled with debt and FORCED into a position of slavery only they don't know it. But eventually the US will default. Inflation will wipe out savings and everyone will be living paycheck to paycheck eventually.