About bailing out banks

[Deja Q]

Banks are a symptom; not the core problem.

Not having good paying jobs so people can keep up WITH the loans they got seems to be one of the core issues. (Yes, some people are irresponsible. But increasingly ,more people are losing jobs due to the inequities of "globalization" (using a country and the workers within, whose cost of living and wages are lower by default).

I can not fault President Obama for propping the banks up.

But it sure would be nice to reverse tax breaks on corporations that do offshore; and try to utilize other methods to make the playing field genuinely level or "flat" again. Otherwise it's a one-way spiral.

Unless I'm missing something and I invariably am...

That's all I can really say right now. That seems to be the most rational explanation, until more items of evidence and/or conjecture come into play.

Flame and name-call away. I know a few will want to truly discuss issues, but that's not the norm these days...

[OhioChick]

1. Bingo!

No Jobs Equal No Recovery, Period.

K&R

[DJ13]

2. I agree with you about wages (most fail to see that side of this crisis)

But as far as propping up the banks its doomed to be a failure, as theres more toxic assets than the US can cover.

That fact is why major economists like of Krugman, Stiglitz, and Galbraith have been trying to open up Obama's eyes to the necessary reality of nationalizing the banks so those toxic assets can be gotten rid of.

[ChromeFoundry]

3. Without a job, one cannot pay bills.

I don't expect any "change" until unemployment drops drastically.

[gotmessage]

4. Let the Banks Fail

That's why we have a FDIC isnt it? That way banks will receive the ultimate punishment for their missmanagement, not be rewarded with taxpayer money.

As for Corporate tax breaks who go offshore..I dont think there is such a thing, except they are going offshore because of tax policy.

And your statement on "Not having good paying jobs so people can keep up WITH the loans they got seems to be one of the core issues" is (((SPOT ON)))).

[OhioChick]

5. "As for Corporate tax breaks who go offshore..I dont think there is such a thing, "

:wtf:

[Eric J in MN]

6. Instead of propping up corporations like CitiGroup,

...those corporations should be broken up into small pieces and kept small.

Then we won't be told that they're too big to fail.