At the Michigan event, [one questioner] asked whether the government should have bailed out homeowners instead of Wall Street, Munger said: “You’ve got it exactly wrong.”
There’s danger in just shoveling out money to people who say, ‘My life is a little harder than it used to be,’” Munger said at the event, which was moderated by CNBC’s Becky Quick. “At a certain place you’ve got to say to the people, ‘Suck it in and cope, buddy. Suck it in and cope.’”
Charles Munger, Vice-Chairman, Berkshire-Hathaway as reported by Matt Taibbi. Berkshire-Hathaway holdings (AIG, Wachovia, for example) received billions in aid under TARP.