Originally Posted by Winstonbiggs
It's the governments job to break up monopolies not bail out companies.
In my opinion, an infusion of cash from the Fed to provide short term liquidity was absolutely necessary to prevent a collapse of the financial industry and potentially our entire economy. However, what transpired afterward was an abomination.
The banks are now bigger than ever, corporate profits in the financial industry are at record levels, and the framework of the entire system is basically unchanged. In essence, it is was a bailout of epic proportions with no real consequences for those who had a major hand in causing it.
After an infusion of cash to keep the economy on its legs, the banks should have been broken up and the system reformed to eliminate the flaws that lead to the situation. It didn't happen, and we are all worse off for it.