Bipartisan Destruction of Free Markets

The Obama administration proposals to nationalize banks are appalling.

The Bush administration’s “don’t ask, don’t tell” TARP bailout of Wall Street was obscene.

Once the feds started bankrolling the banks and other financial institutions, it was only a question of time until politicians claimed the right to control what they subsidize.

It would have been far better for the nation to allow the deadbeat banks and Wall Street entities to go belly-up.  Instead, they have been propped up at taxpayers’ expense, with wave after wave of handouts that are justified solely by the amount of money and favors Wall Street entities have lavished on politicians.

Every additional bailout simply compounds both the financial damage and the peril to American freedom.


4 Responses to Bipartisan Destruction of Free Markets

  1. Dirk W. Sabin February 24, 2009 at 11:48 am #

    Fiat Money has the government and economy it deserves. After all, penury is the best friend of the authoritarian Bureaucrat, it justifies more government to compensate for the many mistakes of government. Democracy becomes Grabass, always good fun for the mob and automatically enriching for the various subcontractors to the government who find extended cover for their various extortions because the people, such as they are, remain fixated on their asses. Those who are goosed the most naturally evolve a high goose-stepping militia.

  2. Peter February 24, 2009 at 4:28 pm #

    what happens if Citi/BoA go belly up? anything?

  3. Peter February 24, 2009 at 4:29 pm #

    meaning, if the FDIC eats Citi/BoA like it is eating all the smaller banks, what happens?

  4. Marc February 24, 2009 at 11:59 pm #

    The world’s first democracy in Athens was a miserable flop. Insatiable quest for empire was the primary cause. Our political experiment is not only making exactly the same blunder but also compounding rapidly growing economic problems with more and more government largess enabled with fiat money. The change that Obama had promised appears to be little more than propping up politically favored corporations which should be liquidated, command economy scale pork barrel spending and escalating the completely senseless war in Afghanistan. Some change – would an F- for originality of vision be fair grade?