Let Wall Street Fail

September 22, 2008 at 3:51 pm

Why don’t we simply make the $700 billion available to banks that didn’t make risky bets on subprime loans?

Wouldn’t rewarding those banks that made good investments make more sense to help out our economy than bailing out those who made bad financial decisions?

The financial system would not collapse and we would be better off than we were before.

This narrative that we have to save Wall Street is simply ridiculous.

It is really quite simple. Let the investment banks that made bad decisions go out of business and then replace them with those sensible enough to have survived.

We should be helping the banks that will help us. Give the money to those who have made good decisions.