Root of the mess

[SeattleUte]

Keynesian economics, the very thing being employed by the bail out supporters, caused this mess. Let's mainline some heroin to cure our addiction to morphine.

http://www.cnn.com/2008/POLITICS/09/...out/index.html

[SeattleUte]

"A bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources."

If this doesn't make your blood boil what's wrong with you?

[il Padrino Ute]

Originally Posted by SeattleUte

"A bailout transfers enormous wealth from taxpayers to those who knowingly engaged in risky subprime lending. Thus, the bailout encourages companies to take large, imprudent risks and count on getting bailed out by government. This "moral hazard" generates enormous distortions in an economy's allocation of its financial resources."

If this doesn't make your blood boil what's wrong with you?

I'm with you.

Like I say, let's shoot 'em all, though there is something very appealing about allowing all the greedy folks on Wall Street and in DC to have to stand in line at the soup kitchen, as you've suggested.

[MikeWaters]

The market thrives on certainty.

We should make it clear that there is no bailout coming.

Do what's best for your company now! Don't try and angle for public money.

[MikeWaters]

The market thrives on certainty.

We should make it clear that there is no bailout coming.

Do what's best for your company now! Don't try and angle for public money.

[exUte]

Originally Posted by il Padrino Ute

I'm with you.

Like I say, let's shoot 'em all, though there is something very appealing about allowing all the greedy folks on Wall Street and in DC to have to stand in line at the soup kitchen, as you've suggested.

earning over $50K, they get nothing until the taxpayer gets paid back.