Why the bank bailout sucks:
Let me see…
- I have to pay more tax money so that an inefficient government agency can give it to banks who will try to loan it back to me at inflated rates.
- It flies in the face of every solid economic principle in history.
- The original intention, although somewhat misguided, was to relieve the homeowners of some of the debt burden, and this has now been completely reversed.
- The banking bailouts have been of such a nature, that the federal government now owns a huge portion of the private banking industry. it is yet to be seen which one is the least efficient at operating them.
- The entire system is artificial to begin with, and now it is being propped up by more tax money.
There are hundreds of other reason this bailout sucks, so if you have some, feel free to post them in the comment section.