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1) It is unfair: bankers created this problem with their un-affordable mortgages, bankers must feel the consequences, not taxpayers in general.2) It is not necessary: there will always be business making responsible loans, any increase in the price of credit caused by the current situation will be temporary.
3) It encourages irresponsible behavior: companies will take more risks if they know the government will bail them out. We are setting up the next bailout right now.
4) There are better ways to stimulate the economy: we could take 100 billion of that bailout money and start a public corporation to make responsible loans to smooth over the current situation. Then the government would actually make the money back, and then some.
5) It is unconditional: there is no meaningful effort to get anything of significance back from the banks in exchange for this massive bailout.
6) We cannot afford it: they say 700 billion dollars and it will probably be more. It's all going on the national debt. Are we learning disabled?
7) It is corrupt: both Democrats and Republicans are in the pocket of these Wall Street firms, you just have to look at who finances their campaigns. Go to http://www.opensecrets.org to see for yourself.
The first step to stealing anyone's money is to make them afraid, whether it's pointing a gun at them, or telling them the economy is about to collapse. DON'T BELIEVE THE HYPE.
