As you are probably aware, in 2008 and 2009, it was discovered that several large banks such as J.P. Morgan, Chase, Wells Fargo, Lehman Brothers, and an insurance company, AIG, had been involved in some questionable business activities.Some of these activities were in the "gray area" between being lawful and unlawful and some of them were clearly illegal.As a result, many Americans lost their homes and most of if not all of their life savings.

When the housing market bubble burst, these institutions were in danger of failing.Rather than letting them fail or even prosecuting the individuals involved in illegal activity, our government accepted the argument that these institutions were "too big to fail" and instituted abailout program using taxpayer money.A good portion of this money was usedby the banks and by AIG to pay hefty bonuses to the very executives whose actions caused these losses in the first place.

Should these banks have been allowed to fail orwas it necessary toinstitute these bailouts (better known as TARP, for troubled asset relief program) to keep these institutions from totally ruining the American economy?What would you do about the individuals who engaged in fraudulent or criminally negligent activities that created this disaster in the first place?What ultimate consequences would there be to our economy and these banks if the government had allowed them to go under?