Should We Have Let Them Go?

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Recently, I have been constantly muttering to myself about the state of our banking systems, our economies and its long lasting effects on generations to come. I sit here in disbelief, aghast at what has happened. My question is, should we have left the finance houses to their own devices and if so what would have been the affects of this after they had declared bankruptcy?

No-one has been left immune, save for a few economies scattered around the world. Our governments have now ploughed trillions of our money to stave off collapse, but what for? Are the banks grateful for what has been done? Have they learned their lessons? Who should be made accountable? How long will our children have to pay for the transgressions of these irresponsible idiots who were once dubbed our superheroes?

I, for one now believe that the financial powerhouses haven't learned their lessons. Why is it for example that they are still giving their staff huge bonuses for making such huge losses? Why are they giving them huge bonuses from the money that [B]we[/B] gave to them and why do they not see this as morally wrong? Are they Gods?

I very rarely sit in judgement, but this issue has seriously got me hot under the collar, but someone [B]really [/B]needs to be made accountable. Due to the irresponsible actions of these bankers, I foresee unrest in the very near future and until this mess is completely cleared up, I foresee unrest for the indefinite future. I have seen the phrase Martial Law pop up on numerous occasions recently, is this an inevitability?

God bless our children.

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  1. Loki's Avatar
    Nice to see a blog post from you Tref!

    I do believe that yes, we should have left them to go bankrupt. Then we could have had a clear cut, left the past behind and go forward. But now, the cracks are being painted over with whitewash, and what we are left with is more debt for the taxpayer. Thus no real relief for the consumer. In fact, these banks have not passed on any of the state-given benefits to the consumer.
  2. Treffie's Avatar
    Thanks for the reply Loki, I believe that you used to work in the banking system yourself? Was there an inkling that there something like this was going to happen?

    It's on my mind constantly, and even though I haven't been affected by this - yet, I can't help but feel sorrow for the innocent victims of what's happened. I also think that there are millions of people out there who don't understand the gravity of it.
  3. Vulpix's Avatar
    Oh good to see another blog ! And it looks very promising I have to say .

    I'm usually a moderate, in that I can see the pros and cons of a given situation. While I admit I was initially for salvaging a few banks and hence jobs and possibly the economic system , I am now of the opinion they should have been let go bust. Or maybe someone should buy out the good bits, instead of creating "bad/toxic banks".
  4. Aemma's Avatar
    Great blog Tref! :)

    I can understand the worry and I fully appreciate the notion that some people might not have a very clear sense as to the gravity of the situation. Sometimes I feel like I belong in that group. I say this only because I live in a government and university town...we here in Ottawa seem to be a bit immune to these large spikes of unemployment and economic downturns. But it'll come here too, I have no doubt of that. :(

    Yes I wonder what the world will be like too in the short term (this year) and the long term as well (in the next 5, 10, 25, 50 years even)...what kind of a world that my son will be left with to muddle in.

    Should the banks who shot themselves in the foot have been bailed out? I don't personally believe they should have. It sent a very poor message to them. :(

    We'll see what happens. :(

    Cheers Tref!...Aemma