We're in sync on this issue.

I support it but I doubt it will ever happen without a major revolt of the taxpayers.

Taxes are one of the major tools politicians use to control the public.

John

It's one of the contributing factors to the meltdown that just happened.

Until just very recently, the US national savings rate was actually negative. That means people were, on average across the whole country, spending more than they were earning. They were taking out multiple credit cards and lines of credit on their homes and spending it as if they earned that money.

Loans, which are the whole issue with the credit crunch now, can only be made if there are savings for the banks to lend. That's why the government is pumping so much cash into the banks, not as part of but on top of the "rescue plan" bill that was passed. They're trying to give them money to lend since the US population hasn't saved enough money for them to feel confident making more loans.

I have a distinct distaste for morals and government being mentioned in the same breath. Our current government cannot live up to our current morals, why would anyone want them governing morals?

Our financial institutions did stupid stuff, while being encouraged by stupid policy from our government, and gullible people got themselves way over their head in debt.

Had our stupid government allowed those stupid financial institutions fail, maybe their fellow financial institutions might have learned a few lessons.

If our stupid government allows these gullible people who got themselves into way too much debt to fail, maybe they will learn a lesson as well.

Now if we could just get our stupid government to learn a few lessons...