My point is, we shouldn't bail those fvckers out either. They need to live with their mistakes too right? Why should we have to pay to bail them out?
Official line? "Some businesses are too big to fail".
Unofficially? Big business has enough power to call the shots and in this case, demand somwhere between $100 billion (minimum commitment) and $11 trillion (maximum debt allowance Congress has approved - they won't have this many defaults, but they're covered if they do).
Remember, 70 years ago, the two biggest bank presidents planned a coup on the pers. It was FDR, right? They planned to take over the nation. The plot was revealed, and info leaked by FDR to protect himself, but they wouldn't charge the men, despite a pile of witnesses and paper trail. FDR knew that taking down the two largest bank presidents would cause the banks to fail, which would kill our economy.
Fast fwd 70 years. Is it *really* that unbelievable that the two biggest lending houses in the USA would have the power and balls to extort money from the govt? (IE: Cover all our bad debt mistakes from irresponsible lending, or we'll just declare chapter 13 and crash your precious economy)
IMO, the companies have more power than the white house does. They can make the life saving of 310,000,000 people worthless by killing the dollar, by declaring bankruptcy.
