General Discussion
In reply to the discussion: A question for Obama and\or his supporters here: [View all]coalition_unwilling
(14,180 posts)I was pretty sure there was a legitimate argument for bailing out the too-big-to-fail banks but that I was unsure what that argument was.
I will be voting for Obama in November because Romney would be an unmitigated disaster for the globe. That said, I think my question is one that many progressives have - why do certain segments of society (like rich bank shareholders) get preferential treatment when people who really need help are left to twist in the wind?
I also have to say that, even should JP Morgan Chase become insolvent, Manhattan Island, its inhabitants and its marvelous architecture and cultural landmarks will remain. And surely there are other banks who could fill the JP Morgan Chase void. It is disgusting that JPM-Chase has its tentacles in so many sectors of New Yorkers' lives - wonder what brainiacs in your city and state governments allowed that to happen. (Out here in California, Bank of America administers all the EBT cards for unemployment and also I think welfare, but not sure about the latter.)
If you think I am violating DU's TOS by asking the question, please alert a jury on it so it can be adjudicated.