I hate bailouts. But keeping thousands of companies intact so that employees resume being employees by simply turning on the lights is vastly less expensive than destroying everything, selling junked assets at pennies on the dollar as in the 1930s, and struggling to rebuild a new world over a decade or two. If for no other reason, I don't want to give billions to the lawyers who would make a fortune shuffling the paper of a million bankruptcies.
For several generations, a solid majority of Congress has been lawyers, both parties. For a generation, the lawyers association (the name has varied to obscure the fact) has been the largest or second largest contributer to the DNC. Congress has long written law for the specific purpose of generating work for lawyers. Our "repesentatives" and "lawyers" are one and the same. But no conflict of interest there, no sir reeeee!
Bailouts are a bad idea.
You're right, but no bailouts and a collapsed economy is an even worse idea.
I hate bailouts. But keeping thousands of companies intact so that employees resume being employees by simply turning on the lights is vastly less expensive than destroying everything, selling junked assets at pennies on the dollar as in the 1930s, and struggling to rebuild a new world over a decade or two. If for no other reason, I don't want to give billions to the lawyers who would make a fortune shuffling the paper of a million bankruptcies.
LOL. Your representatives destroy America, but it's the lawyers' fault for trying to deal with it.
For several generations, a solid majority of Congress has been lawyers, both parties. For a generation, the lawyers association (the name has varied to obscure the fact) has been the largest or second largest contributer to the DNC. Congress has long written law for the specific purpose of generating work for lawyers. Our "repesentatives" and "lawyers" are one and the same. But no conflict of interest there, no sir reeeee!