Pissed off Saturday including Bear Stearns, Capitalism and the Mortgage bailout

Hey Bear Stearns, I know a business that is having trouble, shoot me the number to get some of that federal money so they can stay a float. Thanks buddy…. psss. “mark to market”.

The Bear Stearns stock is in a free fall right now losing over $27 dollars yesterday. At this point I hope the short on GS pays off because that will be one hell of a winner! Many people are saying we are in a recession just be looking at what Bear Stearns did this week and all I have to say is; When does it say we are in a recession because a company made bad decisions and they are failing?

 I just love how I and many others are taxed to death for being successful and then our money is given to LOSERS. Whatever happened to true capitalism? Companies rise and fall and new ones startup. Poor businesses ARE SUPPOSED to fail and those that do well get rewarded for doing good business by the way of profits.

I still do not understand this country and why we must keep patting the losers on the back for being stupid. Bear Stearns took to much risk or took on poor investments and they failed, it is time for someone to come pick them up for 5 cents on the dollar because that is capitalism.

And all the poor home owners that bit off more then they can chew. I do not believe even half of the people in this mess were “tricked” by the greedy mortgage people. Everyone I know dealing with an inflated arm right now did it on their own. They did it to buy more house and have a lower payment. Somewhere they thought they could flip it and sell it, some windfall inheritance would come or as many people thought, I would get a big bump in my salary or career by the time 3-5 years comes and I could afford it.

Well most of that didn’t happen and not you cannot afford the house. Those of us WHO DO THE RIGHT THING, have to to get taxed to death to bail out the people that make poor decisions over and over.

What should happen.

•  Do not use our tax dollars to bail out people and corporations that make bad decisions.
• Let the housing marketing correct itself by people losing their homes and others picking them up on the market from the banks
• Let the corporations fail, be bought out and another new one can start one day
• Lower taxes for those that make profits because of good decisions, yes we will reinvest into the market

If you are one of the financially responsible, how do you feel that your tax dollars are being used to bailout these people and corporations that made bad decisions?

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