These comments on youtube justifying Obama’s bailouts say that in a ‘connected’ economy if Fannie collapsed we would all suffer.
First of all, aren’t economies ‘connected’ by their very nature. We would not have an economy if everyone could provide for themselves.
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But everyone suffers by bailing these companies out. The bailout will be paid for with inflation, which will lower everyone’s purchasing power, and their standard of living.
It is a direct transfer of wealth from the people, to a special interest. Nothing less.
Um, a free economy–or any economy with a faint semblance of justice–does not force you to pay the consequences of somebody else’s irresponsibility, and does not reward somebody else’s failures. Profit is supposed to be balanced against risk, and risk means possibility of loss. Somebody who isn’t willing to take a loss, doesn’t deserve to make a profit.
BTW. Youtube commenters are not expert in subjects of economics, politics, history, religion, or proper grammar. I suggest you ignore them.
Nevermind “expert”, they’re not even acquainted to an utterly basic level with such topics. Read the comments, feel your IQ lower 10 points if not more at a time.