Wednesday, October 15, 2008

Face Bigelow #77 - Bad Debt

I understand making sure regular banks have capital and insuring deposits, but when we bail out investment banks and Wall Street companies that have serious financial problems is that really wise? Even if it hurts us all isn't it better to teach these firms and all their analysts who said everything was AAA a lesson? What message are we sending when we give them 75 billion one week, they throw a big party and ask for another 30 billion a few weeks later? Are we just covering an interest payment and making the problem even worse? What a mess.

Big: Victor, you are my closest friend. We are almost like family.
Big: I've maxed out all 75 of my credit cards and have gone underwater on the seven homes I own.
Big: Would you be willing to take over all of that bad debt so I can get back to the spending spree?
Victor: Sorry Big. I keep my finances balanced. You'll have to talk to the Bureau of Bailout. They'll take it over. They are already doing that with Wall Street.

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