The problem is that during good times, the narrative switches to not regulating "private" enterprise. The financial schemers extract wealth under the guise of "earning" it, while it's all justified by saying that the market will regulate itself.
Yes, not doing a bailout would be imprudent. But this is apparently the only time we get any say. When we don't get to reform irresponsible business/fiscal practices in good times, but they have us over the barrel in bad times, the predictable outcome is spite.
Yes, not doing a bailout would be imprudent. But this is apparently the only time we get any say. When we don't get to reform irresponsible business/fiscal practices in good times, but they have us over the barrel in bad times, the predictable outcome is spite.