Let 'Em Fail

No, I'm not an economist, so I don't know what would happen if the government didn't bail out the likes of Citigroup or JP Morgan or Bank of America. But when I read a story like this, I very much feel these companies should not only be allowed to fail, but we should actively put them out of business.

I'll just highlight the same part of the conversation that TPMMuckraker highlights in the article above:

Paul Kelleher: Yes, I'm calling to inform you that my mom died on the 24th of January.

Bank of America Estates representative: I'm sorry. Oh, it looks like she never even missed a payment. That's too bad. Well, how are you planning to take care of her balance?

PK: I'm not going to. She has no estate to speak of, but you should feel free to just go through the standard probate procedure. I'm certainly not legally obligated to pay for her.

BOA: You mean you're not going to help her out?

PK: I wouldn't be helping her out -- she's dead. I'd be helping you out.

BOA: Oh, that's really not the way to look at it. I know that if it were my mother, I'd pay it. That's why we're in the banking crisis we're in: banks having to write off defaulted loans.

At what point, do we politely interrupt their business model, and say, "No, no, no. Fuck you"?