It’s good to see the bailout talks take longer than the average time it took mortgage brokers to do a non-doc loan. That’s what got us into this mess in the first place, remember?If we rush a “bailout” chances are good taxpayers will lose even more to a problem most of them didn’t create. If we want to hold the greedy accountable, let the greedy bail themselves out. We already see it with Berkshire investing in Goldman Sachs, and JP Morgan Chase buying up WAMU. Let the capitalists be capitalists. Bad behavior is ultimately punished. Good behavior is rewarded with profits. The good companies survive. And the bad ones become WAMU.
In the meantime, innocent taxpayers don’t have to pay for the greed and avarice that ran rampant on Wall Street.