Half a truth is often a great lie.

- Benjamin Franklin

Bailout Defeated: Depression Averted

Understand a free market economy: Yes, there is turmoil but that turmoil is how excess is corrected and greedy, unscrupulous companies are destroyed. The turmoil benefits well run companies and destroys other. Government intervention such as the bailout enables poorly run companies that have made incompetent or corrupt decisions to survive, which not only rewards mediocrity and poor management but increases the probability of mismanagement in the economy again.

If this bailout had happened earlier, much of the money would have been used to prop up Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation ), two corrupt entities that bear significant responsibility for the current economic problems--and two bastardized organizations referred to as government sponsored enterprises (GSE). They were not propped up, and those two organizations are on the road to being erased from the economic landscape. This has happened because we let the market work, so why would we want to stop the free-market from cleaning up our economy?

The government has a way of exacerbating problems and giving themselves greater power. For the moment, the power grab has been postponed. Yes, turmoil will ensue, but it will be short-lived if we can keep government at bay.

It is not over. Find out who voted for this bailout and let them know how you feel. Also, let those who were willing to take a stand and vote against the socialization of our economy and tell them of your appreciation.

posted at 16:57:00 on 09/29/08 by clearpolitics - Category: Economics - [Permalink]

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ELVI wrote:

What strange bedfellows when Michael Moore agrees:

09/29/08 17:04:22

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