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Originally Posted by Blue-S
Where was all this "let the market decide" sentiment when the bank rescue package went through? Did the banks not put themselves in a poor position by loaning money to people that could not repay, and then packaging those loans into financial instruments so complex that it is difficult to determine just how screwed the investors are? Maybe the lack of outrage is because there are no unions involved...
BTW -- To keep this on topic: don't buy GM stock.
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My theory on that is as follows:
When banks get shaky, everyone gets shaky. The thought of a bank default likely hits almost everyone. So, we went along with sheep. Also, that was the first step and most I think thought that would be sufficient.
Since then, it has been like a death of a thousand cuts and I think many are getting tired of this and feeling like we are being hose by the big brains.