If the banks are too big to fail they should be a public utility! Why should we work and sacrifice all of our lives in order to make a few people filthy rich? The benefits and wealth of the society should be enjoyed by all because we all contributed. Corporations couldn't make all of that money without roads, bridges, communications, computers, educated workers, fire and police protection, etc. all of which was developed and/or provided by the public.

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[-] 1 points by OldCrow (22) 13 years ago

Vega: It wasn't just 700 billion ( the TARP). Spanky Bernanke was shoveling money out of the various back alley credit facilities to the banks at an awesome rate. I think the total amount is in the low trillions of $$. And remember they paid out huge bonuses in those banks to top level management even though they were not making a profit and were on Public Relief. so the tax payers money went right into private bank accounts. As for the unfunded liabilities SS is not one of them but of the others I say: Well then fund them! If they can find money to illegally invade and occupy other countries and find it to bail out a millionaires (some of which should really be going to jail) then they can fund social programs that help millions of people and which the public wants. We used to fund them back in the 1960'd and guess what? There were good jobs EVERYWHERE back then (Im old enough to remember). The economy was booming in the 1960s when the tax rate on the richest people was 70%. The tax rate on the top income bracket in the 1950s (during a Republican administration) was 90% and we were in an economic boom during both decades. Funding our social responsibilities like Medicare, Welfare, UI, helped the economy because when people don't have to spend their money on just barely surviving THEY GO OUT AND BUY THINGS!

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[-] 1 points by vegaseller (25) 13 years ago

Wallstreet bailout: 700 billion, fully repaid Unfunded public pension liabilites: 5 trillion, will come home to roost either in the form of higher taxes of high inflation