I believe that when things go bad, you pull yourself up by your boot straps and you take care of it yourself. For the most part (if I ignore my twenties), I’ve followed this my whole life. Even while I was still in college and hadn’t completed my degree, I worked to pay off my student loans.
Now, I’m sorry the people who work for these financial companies are going to lose their jobs, but let the companies fail. By bailing out AIG, we’re sending the wrong message to companies. Take big risks and if you’re large enough, the government will bail you out so you don’t lose your shirt. Well, maybe, they should lose their shirts. The government wouldn’t be bailing me out if I overextended on my credit cards, took out a second mortgage on my house (that’s what an equity line is no matter what they tell you) and racked up huge bills. No one would be walking around to hand me money, so why should my tax dollars be used to bail out a company that put too much money into subprime mortgages?
When are we going to say enough is enough?