Anonymous
Anonymous asked in Politics & GovernmentPolitics · 1 decade ago

If Bush will not bail out homeowners who are losing their homes because they "made bad financial decisions"

then why is he bailing out Bear Stearns ? Those fat cats are sitting pretty in their huge, plush homes getting subsidized by the Fed. They made bad financial decisions too. Why not make this bailout contingent upon them losing their homes too?

Update:

M1 - I disagree with you - what does this mean then, "The Fed essentially guaranteed JPMorgan that it would backstop any risk involved in taking over the 85-year-old Bear Stearns, which has 14,000 workers worldwide."

Update 2:

people, people, people - how can this NOT be a FED bailout if the FED is guaranteeing JP Morgan against any loss????

10 Answers

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  • 1 decade ago
    Favorite Answer

    I say let the chips fall where they may and no package should be available for bailouts no matter who you are!

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  • Anonymous
    1 decade ago

    Bush didn't bail out Bear Stearns.

    It was the Fed and JP Morgan Chase that bailed out Bear Stearns.

    Please skip the "It was really Bush!" or "They all do what George says to do!" stuff because it's neither true nor relevant.

    The fact is the Fed is independent of the rest of the government (no, not 'divorced' from, 'independent' from) and JP Morgan Chase is a private company. Sorry, but sometimes it's useful to recite the facts. ;-)

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  • oldhag
    Lv 5
    1 decade ago

    They have been bailing out the stock market for months.Bush is wrong to keep helping out these institutions with money that is needed elsewhere.We are going into a depression and it looks like Bush wants to keep the rich from losing any money.This crooked government , led by a crooked leader has caused a depression to loom in our future.

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  • 1 decade ago

    George Bush bailed them out? Weird, I thought JP Morgan did. Anyone who thinks the government should be bailing out homeowners really should move to a socialist country. Our government was not formed for such nonsense. Pay your own bills, prepare for the future, save money instead of buying alcohol and boats and other non-essentials, and stop depending on the government to save you from your bad choices and overspending.

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  • nomad
    Lv 5
    1 decade ago

    He's not. The Fed is not subsidizing Bear Stearns.

    Our Government is to protect, not provide for the citizens.

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  • 1 decade ago

    Because its not the governments duty to bail people out who make poor choices. Get off you a$$ and quit blaming the government for everything. Its amazing how much better your life will be when you take responsbility!

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  • 1 decade ago

    Bear Stearns was not 'bailed out.' Another company bought them for pennies on the dollar.

    This would be equivalent to you being kicked out of your house and it being sold to somebody else.

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  • 1 decade ago

    I was unaware Bush owned JPMorgan Chase ....

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  • 1 decade ago

    I'm still waiting for someone to tell me how this is not socialism.

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  • Anonymous
    1 decade ago

    You answered your own question.

    They are "fat cats" in huge mansions.

    We are the "little people".

    Why would Bush want to help poor people, when he can help the wealthy and that help can "trickle down" to us?

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