While I understand the principles behind saving the mortgage and auto industries, I also feel a bit like it's telling them that it's okay that they used shady practices and wasted all their own money. It's not really fair that they get a second chance with our tax money when they haven't really shown that they're going to do any different this time around. Yes, they've they'll do things different, but they've been saying lots of things for a long time. I have absolutely no sympathy for the mortgage companies that have gone under. They knew that what they were doing wasn't the right way to handle loans but it made them money, so they didn't care. I feel even less sympathy for the car companies. They knew this was coming. They'd have to blind not to. But they kept doing what they were doing and now it's biting them in the ass. It'd be bad for them to go out of business, but if we save them from the consequences of their actions now, what's to keep them from coming back to us again the next time they screw up? And then there's the selfish part of me that goes, hey I did a good job of managing my money and doing my job and then out of the blue I'm laid off because the economy is tanking, because these guys decided to mess around with all that stuff, and the government isn't helping me get out of it and it wasn't even my own doing. It's just one more example of how life differs from what my mom taught me growing up. When I misbehaved, I had to face the consequences (generally groundings).
Make sure you read the fine print!
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