Let me understand this, the financial industry takes a hit after years and years of reckless, unchecked financial prosperity and our government wants to rescue it? Yet, the small business owner, the entrepreneur who sweats, toils, struggles, and takes huge personal and financial risks gets nothing? I am confused. Why the mulligan?
Investments are supposed to be risky. That is what all the disclaimers make quite clear when investing. Risk is involved. Yes, you may lose your shirt. But, you also may make some great coin. Where was the financial market when they were making and spending money to great excess? You think they were giving a little extra back to the government since they were making a killing? Doubt it.
What is missing in our culture is ownership and accountability. Blame someone else. Act like it’s not your fault. What does exist–our incredible sense of entitlement. Expect someone to give you a break, provide a great job right out of college, or bail you out without no consequences or obligations. If we write a $700 billion check to the financial market and potentially another $40 billion check to the automotive industry for being stupid, the government would have confirmed for me what I already suspect–we have lost our way!! The spirit of free enterprise, capitalism, and risk/reward economics in the US economic model will have officially come to an end!