I’m Tired Of Hearing About What Companies Spent Their Bailouts On
Yes, I know I know. They took federal money. They claimed they had to have it to stay solvent. Then they blow it. I understand the outrage. I get the frustration.
But all this outrage over bonuses and luxury parties funded (regardless of what the various bailed out companies say) by bailout money misses the point. If we didn’t want these idiots to spend the money, why’d we bail them out in the first place?
Because of course this was going to happen. Of course they were going to get the money and spend it on things that get the public and the grandstanding politicians outrageously outraged. Who didn’t see that coming (except the politicians who voted for it, I guess)?
The point is that they never should have gotten this money in the first place. They couldn’t spend our tax dollars on bonuses and luxury trips for the very executives who steered them into insolvency if we hadn’t given it to them first.
We could have avoided this whole mess just by recognizing that the government shouldn’t be bailing out anyone. If anyone is going to get money from the government it should be the taxpayers getting their own money back in proportion to the rates they paid it in to the government at.
