I love the questions and polling about whether this group or that "deserves" a bailout. The answer is so simple: Not a single one of 'em does. None. Of course that hasn't a damn thing to do with whether it is necessary or not. It is. For reasons which should be abundantly clear to anyone paying attention. That doesn't make it good, or right or fair or any of a number of other adjectives you can throw at it. More job losses in a recession won't make things better. More financial meltdowns and mergers won't make banking safer. More foreclosures won't make markets adjust in a sane way (though, this one really makes me less than happy).
I too have entertained fantasies about the end of the world as we know it, and doing nothing would lead to at least one of those (the "as we know it" is very important there). I'm fairly sure I would be fine, but I know how to create fire and won't die if I have to go through winter without power. Seriously, though, it is not fair or justified, but necessary. For my Christmas list, let's forget the not gonna happen "peace on earth" and "goodwill toward all" (or men, if you aren't crazy PC).
I would like to limit total compensation for execs on bailout money receiving groups to <$100k...not gonna happen.
I would like for financial institutions to be broken up into smaller entities to produce better competition and an eye toward sanity...not gonna happen.
I would like for the big 3 bailout to be accompanied by the government telling them that 27 mpg is a required minimum for any vehicle produced, and that the fleet average must be >40 mpg...not gonna happen.
I would like for people who got mortgages they can afford to have their student loan debt forgiven (as education apparently worked for them, and this does not include me, as I couldn't afford to buy w/o some dumb ass exotic mortgage)...not gonna happen.
I would like for insurance companies (AIG) that receive bailout aid to be restructured as non-profit entities...not gonna happen.
I would like for the execs at companies that lead us down this road to be imprisoned--starting with our very own (thankfully for not much longer) POTUS, his veep, and all their cronies...not gonna happen.
Goodwill toward others is a whole lot easier when "others" doesn't include "them."