Last evening I posted a "status update" on my Facebook account which I now realize could have been confusing. It was something like "Todd wishes he had someone to bail his business out when he makes bad decisions." It would have been easy to read that and think I'm in some sort of dire straits. Not really so. These are tough economic times and my company has felt the pinch in several ways but we have been very blessed overall and things are okay.
My status was meant to be sarcastic. I am not very good at sarcasm.
It just really gets me that all of these banks that made really stupid lending and credit decisions -- decisions that I think were really rather predatory -- are getting bailed out by the government. I mean, is that really how I want my tax dollars to be spent?
I am old enough to very well remember the government bailout of Chrysler in 1979. That was such a rarity and unusual thing. Now they are even bailing out companies in the middle of the night. And there is talk of a bailout for the "big three".
I mean, these are difficult times and I am sure that these measures are necessary. But the backside ramifications bother me because I don't even know what they are. I do know that, more and more, the government is controlling all banks. That bothers me but maybe it shouldn't. The banks in Canada have been controlled through strict limitations for many years and they aren't in this mess.
So, maybe I am worried about nothing. I just get bugged though by billions of dollars being spent to save business owners from themselves -- especially banks -- when, if I made dumb business decisions, my bank would be the first to tell me about it and penalize me.