The New York Times: Reports that the Republican Vice - President Nominee, Governor Palin has stated that the USA could be on the road to another Great Depression if the Congress does not come together to pass a bail out of Wall Street. The 7000 billion bail out of Wall Street should not be passed by Congress, bad banks and companies should be allowed to fail, those parts that make money will be taken over, the market will reform itself. The day the Government bails out Wall Street, a backbone of Western Capitalism will be taken away, better to have tough times now and a better future, than a Market that never takes risks, never creates jobs, the market is the final judge of the economy not the government. I wonder what Ronald Reagan would make of this mess, would he support Bush or oppose such a move, he was a fan of FDR but also believed in limited government.
No comments:
Post a Comment