Bailouts and Blame

1. Bailouts. The bailout of private companies is a waste of taxpayer money (whether it was Bush’s or Obama’s action is irrelevant, in both cases it was wrong). Bankruptcy would allow these companies to restructure debt without providing of vast amounts of taxpayer dollars. Obviously those with a good business model succeed, and those that do not get better or go belly up. Why should we support companies that had unsound business practices.
2. Blame. If these companies, after accepting taxpayer money, spend it unwisely (like bonuses, or later having to file bankruptcy). That is YOUR fault our elected representative, not theirs. Congress and the President should expect companies that already have financial difficulties to continue to spend money unwisely (they have a track record after all) and cannot be surprised when they continue to spend or run the business unwisely. To act indignant at the corporate actions and act like you had no idea (sorry for lumping all the politicians in Washington together, but I don't trust any of you very far...nor should I be expected to) is obvious political grandstanding. If you didn’t know how they used it in the past and didn’t provide them 'help' on how to spend money before it was provided, you really have no room to blame them. That is YOU (again sorry for lumping everyone together) using OUR money unwisely. I liken this to a parent seeing a child’s dirty room and cleaning it and then low and behold the next day it is messy again, and then acting surprised that they messed it up again and blaming them for not knowing they need to clean it up. What are you kidding me? This was a surprise to you? This feigned surprised is insulting again to the public (or at least me), although admittedly most of the public seems to have blamed the companies not Congress that provided the money to the company. You should be ashamed if you acted indignant and you should all be scolding you peers if they acted surprised. To say nothing of thinking about trying to retroactively taxing the individuals that took the bonuses. Not only is that likely illegal, but you in Congress screwed up giving it in the first place (I am assuming that you just didn’t think about it, although believe you knew and hoped it would escape notice), so suck it up, admit your error and do it better next time (and hope you don't get booted in the next election).