Sensacional artigo da Caroline Baum
Junior Asks Daddy, Where Do Bailouts Come From: Caroline Baum
Commentary by Caroline Baum
Dec. 22 (Bloomberg) -- Junior had been watching Mom and Dad
sulk around the house for weeks, wondering what was going on. Mom
still tucked him in at night, and Dad played stick ball with him
on weekends. Yet both parents seemed distracted and detached.
Finally, he could stand it no longer.
“Mom, Dad, what’s wrong? You seem so depressed.”
“Well, son,” his father began. “Your mother and I have
lost a lot of money in the stock market, like many other people
who work hard and save to send their kids to college and provide
for themselves in their retirement. We don’t like to burden you.
I see now that we should have explained what was going on a long
time ago. Sit down, Junior.”
“Thanks, dad. I get upset when I hear kids at school talk
about their dads’ companies getting bailed out. What does that
mean?”
“The government has been handing out money to banks, other
financial institutions -- even the auto companies. It hasn’t done
much to help middle-class folks like us, which isn’t fair.”
“Mrs. Adams talks about fairness a lot in school,” Junior
said. “She says it’s not fair for some people to be very rich
and others to be very poor, that the government should do
something about it.”
“That’s right, son,” Dad said. “The rich should pay more
in taxes to reduce the gap between rich and poor, something they
call income inequality.”
“You mean, someone should punish them for being rich? That
would be like Coach putting me on the bench after hitting that
grand-slam home run in the bottom of the fifth in the Little
League championships. Why would Coach Perkins want to do that?”
Distinction without Difference
“Er, it’s not the same, Junior.”
“Yeah it is. Didn’t you always teach me to stick up for
myself? If Coach Perkins isn’t going to play me, I’m not going to
stick around. I’ll go play for the Hornets, where I’ll be
rewarded for my effort and talent.”
“Let’s move on. Did Mrs. Adams tell you how we got into
this mess? Banks loaned money to people who really couldn’t
afford a home of their own. When house prices started to fall,
these homeowners had no way of paying the interest on the loan.
So they lost their homes.”
“That’s sad, Dad. Are we going to lose our house?”
“No, son. Your mother and I have always lived within our
means.”
“What happens to the people who get kicked out?”
“The government has been trying to help, encouraging
lenders to give them new loans.”
“If they couldn’t afford the old loan, how can they afford
the new one?”
Toy Story
“Junior, you ask too many questions. The government is
bailing out the banks because without them, no one could get
credit -- borrow money. The government is bailing out U.S.
automakers because it doesn’t want to put a lot more folks out of
work at a time when the unemployment rate is already soaring. And
because the U.S. needs its domestic auto industry.”
“Why? KB Toys is going out of business, and you and Mom
still bought me toys for Christmas. I know I’m not supposed to
know, but I peeked in Mom’s closet.”
“This is more complicated, son.”
“How do you get a bailout, Dad? Does it go to good or bad
companies?”
Bailout Criteria
“I know it must sound strange, Junior. Many of the
companies getting government money did bad things. They took
risks with other people’s money. They padded their own pockets
instead of watching out for their customers. And they lost a lot
of money in the process.”
“How do you get paid to do bad things? You don’t give me my
allowance unless I walk Rusty after school, take out the garbage
and clean up my room.”
“You’re right, Junior. The government should really help
those in need.”
“C’mon Dad. If it were that simple, the government could
write everyone a check for a million dollars, and make us all
rich.”
“Junior, I can tell you really have a knack for this stuff.
I’m glad I could help you.”
“Thanks, Dad. Do you know where Mom is?”
