Wednesday, September 24, 2008

No Bailouts. None!

We've been presented with a choice: either we allow the Federal Government to borrow $700,000,000,000.00 to buy some bad investments from people who should have known better, or our economy will fail.

I say: it fails either way.

Either it fails in the obvious way, with businesses closing and lots of pain, or our system is shown to be a failed design, unable to carry on without socialist action.

But it was socialism which got us into the mess we're in, not capitalism.

Eric at Classical Values quotes Ace and delivers his own analysis:

The problem is the relentless push for socialism (a word few will use), which has done enormous damage to the economy by the simple misuse of a two word phrase:

"Disparate impact."

This is the legal doctrine behind much of the abandonment of standards in the name of "fair lending," but it is not limited to banking. It has come to permeate almost every aspect of business culture ....
It's gone too far already. This fear we have of racism and being called racist is driving our economy into the ground, and may even cause us to elect a man purely on the color of his skin, when the content of his character is, to the extent we can see it, odious beyond measure.

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