Milton Friedman on Bailouts

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Category:

News & Politics

Tags:

• milton friedman
• bailouts
• auto bailout

[oshory]

Capitalism is about profit and loss, if you bail out the losers there's no end to the cost.

[Foreshadow44]

Thus AIG should have failed, Chase and BoA should have also. I had accounts with all three. The company would have ceased to exist but the retirement account and my less than 100k bank accounts would have remain solvent and the bail out money would have essentially bailed the small guys who earned that money and kept it with those large banks. All the bank employees would have lost their job and no bonuses paid. Criminal investigations would have followed.

[poidog44]

@Foreshadow44 Actually, he believed banks should have been bailed out during the great depression.

[poidog44]

@kriskats19 You may want to research the Libya "war".

[poidog44]

@fountainherz Or should the tax payers have their money go toward fighting wars?

I say no.

[solmyrgarde]

Government "should" keep its people happy and wealthy, which it isn't. Oh well.

[kriskats19]

@madscientistify Go ahead and call names all you want. You liberals have to do that because your ideas don't work or make sense.

[Foreshadow44]

I'm a Chase member too, point is I'm insured so if they go out of business I won't lose anything and someone will simply take their place. hence, they should go under if they play the gambling game they involved themselves in. I had BoA and dropped them to switch to Chase and if chase went under or treated me like BoA I would drop them too so they need to treat me according to a level of commitment and service as Chase says "The right relationship is everything" and so I hold them to that.

[Romansteel13]

@Foreshadow44

"Thus AIG should have failed, Chase and BoA "

BoA is dead in the water.

AIG was the largest insurer at the time.

Chase was the first out of the 9 mega banks to pay back their TARP loans.

Chase is also the largest bank in the world.

I am proud to be a card carrying Chase Member.

[zed6952]

Donahue is not a douche. He is a television presenter playing the devil's advocate. If Donahue were, in fact, a douche, he would not give credence to Friedman's ideas nor allow him a forum from which to present his ideas.