Tuesday, March 18, 2008

Bail Out the Wealthy

Some words from E.J. Dionne:
Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries and how government should keep its hands off the private economy.

That hits the nail on the head. Capitalism and free markets are just great until they are not. The "free market" proponents are being very silent about the government having to bail out the big guys.

And this:

It's just fine to make it harder for the average Joe to file for bankruptcy, as did that wretched bankruptcy bill passed by Congress in 2005 at the request of the credit card industry. But the big guys are "too big to fail," because they could bring us all down with them.
What amazes me is that the "average Joe" (at least the average conservative Joe) is probably all in favor of the bailout of Wall Street. Personal responsibility doesn't apply to the very wealthy.

Here is the best line:
"We have been saying for so long that government is the enemy. Government is the enemy until you need a friend."

No comments: