Let Them Fall!
Posted by: Not The Only One in Government Incompetence, Government Corruption, Economics, Government InterferenceI know this is kind of late (technical difficulties the last few weeks) but I’m really not too happy about the recently revised $700 billion bailout bill.
While my Internet connection was out of service, I watched on television as the original bailout bill was rejected in Congress, and again with renewed cynicism when it was unbelievably approved.
The catchphrase I kept hearing from politicians of both parties was that these lending institutions were too big to fall. But in real, free-market capitalism there is no such thing as a business that is too big to fall. What’s more if, for argument’s sake, that these corporations truly were too large to fall, they people who ran them should’ve conducted business responsibly, or at least responsibly enough to keep these companies from falling.
Of course, as I’ve said before, why bother to spend money responsibly if you truly believe the government will bail you out if you screw up?
Just let them fall, I’m sure Main Street will meet the same crappy fate whether or not we bail out Wall Street.
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