by L G Hoel

Created on: March 31, 2009   Last Updated: February 26, 2010

Americans voted for change in 2008. They did not vote to continue the perverted bond that has been created between government and corporations. The too big to fail philosophy is a royal ponzi scheme. We are being told that the government has to intervene in the banking sector to prevent a complete collapse of our economic system. If this is true, Uncle Sam better not give them a blank check. I do not think we are rich enough to prevent all of the world lenders from going bankrupt, even if our greed along with theirs helped create the world crash of 2008.

No, the government should not intervene to save most big corporations from bankruptcy. Corporations have been asking government to get off their backs for years. The politicians obliged by deregulating everything. Now they want the government to help them? National security might be a consideration for saving a few corporations. The American taxpayer and consumer have been led to believe that bigger is better for more than thirty years. Now the corporations are big and failing. They have now gotten so big we can't let them fail? Something is wrong with that picture.

Corporations and their profits have grown rapidly in the boom years, while individual incomes and purchasing power have stayed the same or shrunk. Corporations got big by forcing out small business, cutting wages and then finally moving jobs offshore to make even more profits. The American consumer who lost his job to workers in China and India was then given credit cards to buy the products that were being made by the people who took their jobs.

Trade deficits were of no concern for years. Profits came first. The corporate brothers in lending were amassing profits like they never imagined. The future of America's economy and workers meant nothing as new schemes to grab quick profits ruled in the boom years. They were building the new global economy on phony money.

Most small banks are solvent, because they made loans the old-fashioned way. They only made loans to people who could pay the loans back with a fair interest payment. Their profits were small compared to their big city cousins who invented "adjustable rate mortgages etc." Why should the taxpayer and the honest banker pay to bail out the greedy bankers. Most families paid their car loansand credit card bills on time. Why should they bailout those who did not pay their bills? It sounds like the government bail out plan is to pick up the banks bad assets, that will forgive the deadbeats

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