People have the money to pay off massively "upside down" loans, bails out the banks, which allows them to lend, the real estate market does not take the hit that it did and is still taking. People pay off vehicle loans, that bails out the auto makers. If you look at it the way you are, everything will be an epic fail. Of course you will always have slack jawed idiots who say "I have no debts, I dont have to work". While that is bad, it has good points as well, less people looking for more jobs. But look at it this way, the less debt you have, the more you spend (buy a new car, remodel your house, buy that new television, eat out more).
I'm just saying, bailing out the people may or may not have worked any better, but if done correctly, it would have helped more people, and possibly been cheaper.
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Date: 8/7/11 21:25 (UTC)I'm just saying, bailing out the people may or may not have worked any better, but if done correctly, it would have helped more people, and possibly been cheaper.