While I have vehemently disagreed with some of the uses of "bail out" funds, I feel equally as indignant with the term "bail out."
It wasn’t a bail out. We Americans were investors of last resort.
Turns out all of the things most people think are "bail outs" are actually going to make money for us.
Ironically, the place where we are going to lose money is the housing programs.
In other words, not Wall Street fat cats… but good ole average Joe and Jane Doe.
Most important, he said, is that the government’s combined investments in banks, financial institutions, automakers and credit markets "will show a positive return. The losses will be limited to the amount we spend on our housing programs."
So, if you want to say that good ole average Joe and Jane Doe were duped by Wall Street fat cats… fine, then we all bailed them out of their predicament.
If you want to say this was a tragic outcome of a noble effort to make the American Dream available to all… fine, I’m even good with that.
Other than the horribly offensive bonuses that were paid to employees of essentially bankrupt companies, let’s just make sure we call a spade a spade when it comes to discussing who actually got bailed out.
As for the American Dream? Turns out it takes hard work to achieve. Like anything of great value.
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