Bailouts for Financial Psychopaths

April 23, 2009

Unfortunately most of the bailout money is necessary to bring life back to the American economy. It started last fall with hundreds of billions of dollars followed by several trillion in low interest loans last December. It continues to this day and it might work.

Bank bailouts are part of a new bankruptcy scheme with direct government participation and continual intervention. In most bankruptcies there is an end date with a court overseeing things but right now, there is no end date because no one knows how big the problem really is. This was true last October and it is true now. The banks are still lying and hiding... playing financial games.

If you forced the broken banks into "normal" bankruptcy the effects would be abnormally magnified because their incredible greed and corruption. This isn't like a community bank going under and FDIC stepping in and finding a buyer or transferring the operations with a government guarantee. Their corruption is worldwide and the price we now see is incredibly high.

Most annoyingly, the companies who got the bailouts don't think they have done anything wrong and went ahead and paid bonuses all the while whining about the scrutiny. This shows THE fundamental problem with our financial system and those who run it ... it shows they are financial psychopaths.

You cannot trust a psychopath, they will do what they want and blame others for their problems.

Public trust in financial institutions is necessary for a viable economy and there is very little left right now. It would help to fire then jail the bailout bankers and seize their personal assets. Right now, people see bankers "getting away with it."  Don't let them. Make them pay.