Nay. We shouldn't have bailed out the banks who owned underwater mortgages, we should have bailed out the homeowners whose houses were underwater. That way we could have stopped the collapse (as much as TARP did anyway) and prevented people from losing their houses. True, the ought to known better than to sign up for the mortgages in the first place, but that's the banks' fault as much as it is the homeowners. By bailing out the banks we managed to reward bad behavior and screw over the little guy at the same time.
This precisely.
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