Bailouts Are Bad

I could be wrong, but I think these latest bailouts (Fannie Mae, Freddie Mac, AIG) are a bad thing. We're told that it would be super bad for the economy if we didn't bail them out, but it seems to me that the economy is suffering pretty badly by bailing them out and that the only people that seem to gain out of this is the people running those failed companies.

Obama is buying votes, by suggesting that we should also bail out those 5 million home owners that are being foreclosed on, and suggesting that its the fault of corporate greed. I agree that it's greed, but not just that of big business, but also of the jerks that took out loans for homes they knew they couldn't afford in the first place.

Why should we bail them out? We aren't doing anything for the poor guys still living in apartments; the ones that were responsible and knew they couldn't afford to buy homes. What are we doing for them? We're going to hurt the economy that they struggle in already, to bail out people that don't deserve to be bailed out.

I could be wrong, but it just seems to me that we shouldn't be bailing out the big guys or the little guys. Not only that, but I have trouble with the notion that executives at these failed companies are walking away with multi-million dollar compensation packages; while the company fails. This is wrong. If they have the money to pay these guys that, then they don't need my bailout.

I repeat; we're told that it would be catastrophic if we let those companies fail. It seems to me that it's pretty catastrophic by bailing them out. We just further devalue the dollar, running up the cost of oil (because we buy that on the international market that now wants more dollars for the same oil). That seems pretty catastrophic to me.