Comments on: Why we Need the Bailout

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Yahoo to shut down most operations for a week to cut costs — Thu, 24 Dec 2009 01:27:21 +0000

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By: lowid

lowid — Sun, 19 Oct 2008 23:53:39 +0000

Greets! Really interesting. keep working! Tnx!

By: ep

ep — Sat, 11 Oct 2008 16:32:13 +0000

I wasn’t trying to pass judgment on the specific bill that was passed in this case, just the reason why needed to do something.

In a future post I might break down the specific bill.

Thanks for sharing your thoughts.
-ep

By: Erik

Erik — Fri, 10 Oct 2008 05:27:33 +0000

When speaking of the bailout are you also speaking of nationalizing the banking system as has been proposed?

By: billy

billy — Thu, 09 Oct 2008 14:15:33 +0000

You’ve put together a lot of good info on the Bailout. I agree with you about the problems you’ve cited but I still don’t think that this bailout that was passed is what the problem called for. Instead it was a kneejerk reaction to a long ignored problem (if you can count creating the problem and fueling it’s flames as ignoring it).

It’s my belief that the bailout will only prop up broken policy and bad business. My concern is that excessive government intervention will only drag the propblem out, much like price controls and other bad policy extended the downturn that was the Great Depression.

Many people talk about how we have to change how we (us citizens, well and the government) spend money. If the government creates artificial controls and prints money on a whim to discourage us (and business) from doing so, how can we reach that point of better spending? I don’t think we should go cold turkey and just let everything work itself out though.

Here are some of the things I would have liked to have seen in the reactionary legislation to the current economic crisis… http://blog.mises.org/archives/008677.asp. These suggestions directly affect problems in the banking industry.

In my opinion though, the most disgusting part of the bailout was the massive amount of pork that was attached the bailout. The government still hasn’t realized that they too need to curb spending on unnecessary programs. Our national debt is outrageous. We just added more than a trillion to that number with this bailout and Fanny/Freddy/AIG. What happens when instead of Lehman’s going bankrupt, the United States does?

By: David Wornica

David Wornica — Sun, 05 Oct 2008 20:55:11 +0000

Hands down, the most insightful, logical and well thought out synopsis of the “Bailout” I have seen.

Great blog, a must read!

By: QueenGeek

QueenGeek — Wed, 01 Oct 2008 18:13:46 +0000

Very interesting article. My sis and I were discussing the point of “why a bailout is needed”. Her stance was “when the building is burning, don’t figure out who is to blame; just put out the fire and figure out everything else later.” I didn’t disagree but I will admit that since I’ve gotten rid of credit cards since April 2008 **and** I haven’t had any serious emergencies, I’m cautious about throwing money at what has become very bad spending (and saving) behavior in our culture….myself included. Something needs to be done…definitely. I’m not rich by any means and it wouldn’t take much of a financial emergency before I would consider working at “any” job to keep a roof over my head and put food on the table.

However, having said that, the only thing that’s changed for me is my spending and saving habits. I’m am a “gadget freak” and could find something to buy everyday & all day at a computer store. So, I’ve recognized that I had to “put up, or shut up” by going to a cash system….yes, I’m a Dave Ramsey (daveramsey.com) follower and for the first time in my 40+ years of living, I’ve saved more money and paid off more personal debt in 5 months than I’ve done in my entire life/professional career.

So, my long-winded story is a bail-out is great but unless folks change their spending and saving behaviors, history will repeat itself and all the bail-outs in the world won’t fix that. I question what is going to be done on the grander scale to solve the issues involving government spending (banks, etc) to the worker-bees of America.

QueenGeek
http://queengeek.me

By: Mike Harmon

Mike Harmon — Wed, 01 Oct 2008 10:01:16 +0000

A friend of mine just emailed me one of your articles from a while back. I read that one a few more. Really enjoy your blog. Thanks

By: Tim Ramsey

Tim Ramsey — Wed, 01 Oct 2008 09:22:29 +0000

I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog.

Tim Ramsey