Obama and the bailouts

There are many people who are against President Barack Obama. We hear that he is a socialist. We hear that he wants to take over the all private entities among other things.

There is a passage in the Bible that states that the borrower is slave to the lender. When you finance a house or car, you don’t actually own the house or car, the lender does. Nobody has a problem with this understanding. When companies ran into trouble and the government stepped in to bail them out, shouldn’t the government own a portion of the company? It’s the same deal. If you don’t want government help, then don’t take the government funds and file for bankruptcy or whatever else you must do.

The companies that needed a government bailout were probably expecting a bailout from the government with no consequence. Obama is a neophyte, he doesn’t know what he is doing was the thought. He’ll do probably what McCain would have done. Give the companies our money, with no strings attached and no collateral. Continue to let them operate as a private entity. Let the companies give the money back when they get around to it. It’s quite amazing how fast these companies wanted to pay back the money, when they found out it wasn’t free money. It’s quite amazing that a few months ago, these companies were on the brink of collapse and needed the money and now (nothing in the economy has fundamentally changed) they have rushed to give the money back. Makes one wonder if they really needed the money in the first place. This was actually a smart move by our President. It gave the companies an incentive to pay the taxpayers back.