To be able to have the government bail you out because you made horrible decisions and mismanaged your money. What do you think about the government bailouts?

Well, now that we see the banks hording OUR money (which they were given to help stimulate the economy)...should do what you do to all traitors:

I do not care if America slips into a horrible depression. Bailing out people that fail on their own consistent mistakes should not be rewarded. Maybe someone else out there may have dreams of starting a lending company. We let things get too big in America. The bigger something gets the harder it should fall, not be held up by those who have nothing to do with it's failure. Complete bullshit it is!!!

I happen to know on some inside info that Chase did not need to accept TARP money but accepted it and paid it back as soon as allowed with interest.

I believe that was a foolish move since whenever you accept government assistance, you are under their thumb (investigated for giving bonuses, firing of CEOs, castigation through the media outlets).

I personally agree with the poster against the "Too big to fail" mentality. When businesses, large or small, with an unprofitable business model are artificially propped up, they are only delaying the inevitable and making the correction more painful when it does happen. That is unless the model changes.

Look at the auto industry which has union labor costs and benefits as a HUGE growing liability. Obama and the liberal congress are largely supported by big labor so concessions are likely not even on the table. So, the auto industry accepts a bailout, let's the government takeover and appears to be saved from bankruptcy. What happens eventually is that this temporary stimulus of liquidity runs out and you are still in the same insolvent situation you were in before, but now the government runs you so you are beholden to them. What will then happen is that you will go bankrupt anyway and 1. All of the taxpayer money is lost, or 2. The taxpayer as a partial owner is now on the hook to cover these contracts which are unsustainable. Or maybe BOTH.

I believe that it is a good thing for the economy to be allowed to correct itself and for the government and personal finances to move towards a more savings oriented model instead of a debt and spending oriented model.

That's why I have been paying off debts and trying to save money over the past couple of years, because the inevitable correction is coming no matter how long you try to delay it.