Aunt B. writes about today’s economy and what she overhead an intern talking about with her mom about finding a job in today’s market.
Anyway, yeah, so I was about to welcome her to the club when she went on about how she wasn’t seeing any job openings on the internet or at this company or that company and it dawned on me that the panic in her voice was a little different than when I graduated.
And it scared me, too, because, frankly, I have no discernable skills. If my employer decided to cut costs by cutting me, I don’t know what I’d do instead.
So, I don’t understand why, with this financial crisis, it’s okay to bail out the big banking companies, but not the little guy who’s going to lose his house. I don’t even understand what bailing out these big financial companies has to do with a free market. Why is it that we have to let the market do its thing when it’s regular folks who are about to be crushed by it but when the market is about to do its thing all over the banks, the government has to step in?
More over at Tiny Cat Pants.Â
Even in the best of times the little guy can lose his house. It’s when the big banking companies start collapsing that we have to worry about an actual Depression. Hence the importance of propping up the banking system and consumer confidence in said banking system. That’s why we have the FDIC and other failsafes.
I would have a lot less problem with the non-bailout (that looks, walks and quacks like a bailout) if the honchos of the affected companies were divested of their assets and put in the slam for a while.