[lbo-talk] question for those opposed to the bailout

[Wendy Lyon]

Ireland passed a bailout bill this week too. The main (left) arguments
against were (1) that it amounted to rewarding the banks for their own
bad practices, and (2) that the working people would be the ones to
foot the bill.

On 04/10/2008, shag <shag at cleandraws.com> wrote:
> i was following the conversations, but i never got a good handle on why
> people were opposed to the bailout. i am trying to see if i can sum of the
> various classes of argument, and you can correct me:
>
>  for some, it was obviously that the bailout was crap because it wasn't
> radical enough. we should have used this as an opportunity to force wall st
> types and their lackeys in congress to make important changes to the system
> that would redistribute wealth downward.
>
>  for some, it was that we shouldn't support the bailout because we should
> allow the crisis to happen and this would provide fertile grounds for
> radical social change.
>
>  what were some other arguments?