Should somebody in congress introduce a bill that outlaws government bailouts?

[Thefedupmatthew™]

By bailout I mean the government buying failing businesses or loaning money to them.

 

[PaulGrass™m]

Yes sir that should have been done a long time ago in my opinion

 

[jack99skellington]

You do not realize that the USA made a profit from TARP? That those banks that needed the money so bad ended up paying it back (with interest), because they couldn't give themselves bonuses until they did?

 

[StoreBrandMayonnaise]

Doesnt matter, because it wouldnt pass

 

[PaulJackson]

Why would they?

If it wasn't for bailouts Lockheed would have gone under in 1971, Chrysler would have died in 1980, and we would be in a major banking crisis right now.

http://www.propublica.org/special/government-bailouts

 

[redtop1]

no but they should be restrictive to things that would hurt the nation otherwise

 

[ColleenIsBack]

The Financial Reform legislation basically does just that. Amazing eh? Bet you didn't hear that on FOX though. Instead they repeated Republican Party talking points in opposition to the measures which were a smokescreen for their efforts to protect the banks. As usual.

 

[Ken]

Done. President Obama's Financial Reform bill does just that. Pretty good, yes?

http://politifact.com/truth-o-meter/statements/2010/apr/21/harry-reid/reid-says-financial-regulation-bill-will-end-taxpa/