Here is a link to a good article on the proposed $700 billion bailout. I especially like the idea of cutting the pay of executives who will benefit from the bailout. Otherwise, our government would be rewarding losers.
Speaking of losers, the Bengals and Browns face off this weekend here in Cinci. Quinn may get the start for Cleveland. If anyone is up for it, I know some people who tailgate just about every game.
My favorite quotes from the article.
ReplyDeleteRepublican Sen. Jim Bunning of Kentucky said last week, "the free market for all intents and purposes is dead in America."
-I thought "The Market" was the answer for all of life's economic questions... why not let "the market" figure it out now. I find it hard to belive that all the sudden government intervention of this scale is the answer.
Congress is being asked to enact a fundamental restructuring of the U.S. economy — in one week. That's not a lot of time for lawmakers to weigh their options and the repercussions of their actions. In private meetings on the Hill, Paulson and Bernanke have warned lawmakers about the dire consequences of not acting — but these economic Doomsday scenarios have not been spelled out to the public.
I've heard plenty of five second quotes on t.v. about how close we were or are to an economic meltdown... what does that really mean?
I heard a politician the other day who said something like:
ReplyDeleteWe are being told that we must act now. The last time I heard that I was on a used car lot...
I am sure that not acting will result in economic chaos. But is it really worth it to take action that could alter the fundamentals of our governmetn forever?
Wasn't it George Bush that once said, "its the economy, stupid." Stay safe by getting a chicken, a goat and a garden...and a gun.
ReplyDeleteAnyone looking for a goat?
ReplyDelete