[dforest]

I believe we are all sick and tired of the “Bailouts of the Rich & Famous” all lib friends, buddies, and supporters.

Where are the bailouts for the other folks. Where is the anger?

[ari-freedom]

He's probably Mad at Madoff but also part of the problem

[Freds2nd]

The SIPC is not just for the rich and famous. Anybody defrauded making an investment covered by the SIPC can be reimbursed up to $500K. SIPC is funded by the securities industry, not the Federal government.

“The Securities Investor Protection Corporation (SIPC) was created in 1970 as a non-profit, non-government, membership corporation, funded by member broker-dealers.”

It will be fun to watch these highly connected Democrats try to arrange bailout money above SIPC. Schumer can bailout Lautenberg!

[The_Reader_David]

Maybe what's needed to stop the bailout mania is a "debtor's union". Anyone with say $5K or more in unsecured debt (credit card debt, student loans, other unsecured personal or business loans) would be eligible to join. Then collectively, once the union represents several trillion dollars in debt, the union would demand a bailout, threatening one and all to simultaneously default on their loans. A kind of 'Samson option' for the U.S. economy.

Of course the real point would be for the debtor's union to have a reasonable fallback position, that would include no more bailouts of corporate, labor union, or banking interests unless the debtors' union is bailed out first, and maybe full tax deductibility for all personal interest paid, including under the AMT (or better still, full tax deductibility of interest paid and abolition of the AMT).