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photo credit: Daquella manera
The problem with free money is that when it's given away, people come to expect it, and often become indignant about it, as if it's owed to them, and they keep coming back for more. Such is the case with our big idea of bailouts; now Freddie needs more cash, imagine that! Remember, we are a free market economy; capitalist, if you fail, you fail. The claims are that we cant let them fail, the economy will collapse, no it wont! It may need a little time to adjust, but we won't have to wait too long for another company to come in and pick up the slack, and they will! That's they way it works! At least that's the way it is supposed to work.
No one knows why a Republican, George Bush, thought it was a good idea to give away free money to help fix a capitalist economy, it sounds a bit counterintuitive. Now the current administration, Democrats, loves the idea and, of course, gives away free money at the behest of some sorrowful story, please Mr. President, I need more money, or the poor little children will go hungry. They are hitting the gas peddle on something that a rouge Republication President started, giving away free money, it never should have happened in a Capitalist society. You cant use software upgrades to fix a persons broken arm. Much like the software example, you cant use a socialist societys solutions to fix a free market economy's problem.
Freddie is asking for another, are you sitting down, $1.8 Billion, thats billion with a B, bringing their outstanding balance to a mind boggling $64.1 Billion. When, in American history, have we let a failure of this magnitude continue? Funded by our own Government! By the way, we are paying for this failure. Bailouts have happened before, but the idea is that they fix the problem, but here they are again. Tell me, is it a failure of a corporation or is it a failure of a Government? I wonder if Freddie and Fannie understand that what their doing just isn't working, but I guess it has, they keep getting free money. Not a bad deal if you dont want to run a business properly.
Read the full article from CNNMoney
Posted on August 17, 2010 04:54:34 by IPTV.Boyz
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