>>I really don't think it's clear which is the lesser evil, letting a failure like S&L risk destabilizing the whole economy, or bail them out, letting some guilty parties escape with their skin, and it probably varies from case to case.<<
dennis, short term benefits vs long term benefits are almost always in conflict here. eg, short term bailouts are the way to go. however, people aren't dumb. if they learn they will be bailed out then they take more risk. the more risk they take, the bigger the problem when it hits the fan. i temporarily forgot the term for this. it is a real psychological effect.
>>People around here throw around the word "socialism", but unless one has lived in Europe they don't know what the word means!<<
i had a friend from europe. he was let go at a summer job while going to school. if i recall correctly, he made as much money on unemployment as he did working - at least nearly so. also, needless to say, he didn't look for another job. this is the world that al gore stands for, imho. |
