Don’t bailout people who behaved irresponsibly

-A +A
For the past six months investors, retirees, and employees have experienced major losses in their stock market and 401k accounts. In many cases they have had to meet margin calls or liquidate stocks to bring their equity back up to 50 percent. This has been very painful with many people having to make major changes in their lives and plans. During all this turmoil in the financial markets, what has the government done? Spent trillions of borrowed dollars that will more than likely be repaid by our great-grand-children. Apparently, the government has a checking account that never runs out of money. I think it is time for the taxpayers to give a margin call to the government and tell them that the American way is to allow failing businesses to go bankrupt and to quit rewarding failure with bailouts of people who bought houses that they knew they could not afford. There is no reason that the 92 percent of people who are making their mortgage payments should be forced to bail out the 8 percent that choose irresponsibly. Carl E. Hass Rocklin