Bruce McQuain at QandO:
Business takes a hard look at the potential and when there doesn’t seem to be any, it pulls back. Government, on the other hand, decides it believes something has a future and spends money to try to make their belief a reality.
[sarcasm] And that friends, is why when business saw the real estate and mortgage market going insane, they pulled back and reconsidered their investments. Surely what they didn’t do was put up billions and billions of their investor’s money in what amounted to be gigantic excrement piles of mortgage-backed securities and the like. That’s why no companies needed to be bailed out by the federal government, and certainly no banks have gone out of business due to the mania that never happened. [/sarcasm]