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The Bailout Bust

Submitted by michael redbourn, Sep 30, 2008 07:50

If America believes in a free market economy and capitalism then Congress was right to deny this bill's passage. The only other country that I know of that committed around 4% of its GDP to bail out private enterprises was Sweden which is about as much an extreme left socialist country as you can get. If the Congress and the Senate agree to this bail-out then the US will no longer be a Capitalist society but a Socialist one. Surely the idea of capitalism (whether right or wrong) is based on the survival of the fittest?! Weak and inefficient companies either go under or get bought out by more efficient ones. Mike

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Other reader comments on this article

Comment	By	Date
The seizing of credit markets is extremely serious, and will be relieved only when financial institutions begin trusting federal law... [MORE]	Wayne Jett	Sep 30, 2008 13:59
What lost September 29's vote was the current speaker (Nancy Pelosi)! What possessed her to lambast the republicans prior to... [MORE]	jwatl	Sep 30, 2008 13:08
Decent commentary, right up until the last half of the last sentence. Pegging the dollar to gold or some other... [MORE]	kwo	Sep 30, 2008 12:08
Economics 101: Before any decision, consider the accuracy of what you are being told; evaluate the fundamentals undergirding the Risk... [MORE]	Joi Reiner Gallo	Sep 30, 2008 11:05
I would agree that it is time for the government to get out of this business. And sending a signal... [MORE]	Mike Falatko	Sep 30, 2008 10:14
Do you honestly think McCain is lying when he says there will be no capital gains tax? Do you honestly... [MORE]	maureen rehg	Sep 30, 2008 09:27
If America believes in a free market economy and capitalism then Congress was right to deny this bill's passage. The...	michael redbourn	Sep 30, 2008 07:50
It is well past time to impeach Pelosi and her cronies for the botched handling of the financial bill. The... [MORE]	James	Sep 30, 2008 00:43

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