Bailout bill fails

[jwkniska]

Originally Posted by SCUDSBROTHER

Fact is we need to give out much, much, much less credit to people. People don't like that, but it's the truth. We need to give out some money for loans, but we can't just keep living on credit. Band aid it all you want, but we have to stop abusing credit.

100% true, and the worst of it all is that the people that can afford it the least are the ones that get more and more of it. sooner or later the banks are going to have to deal with it, as they're going to have to stop lending to people that don't have any collateral and don't deserve it, and the banks that want to take the risk and pick the wrong people to lend to... DESERVE to be run out of business when they default.