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Originally Posted by Rokinronda
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The previous post said it correctly - there is no invoice yet and whether there will or won't be is a matter of time.
To me, this bailout is no different that rebuilding a city which was sited 4 feet below sea level and people did not bother to buy flood insurance, or providing bailout loans for cities that overspend. In the near future we will probably see states like Maryland (no Bluer a state there is...) - which has overcommitted big time at the state and county level - come with hat-in-hand seeking bailouts for poor business practices because there is no other choice other than to effectively raise taxes 50% across the board.
Stuff happens, and nobody has a crystal ball to forecast the future to a no-risk image. I'm just glad that THIS TIME there was some recognition of a serious problem and action taken to thwart it. The last big time there was such a crisis (1929) it came, then impacted, and the solution was too late to implement.
Politicians everywhere are trying to make political capital out of this through the blame game. The fact is we all are to blame or none of us are, as everyone wanted a little more out of the pot than was possible, and this time it went tilt, but did not shut down. We've learned a little more, and won't be so blind (hopefully) in the future. But life IS a learning process, not a guarantee, and we haven't seen it all or know it all yet. The real thing is, did we learn enough not to make the same mistake a second time?