Who is this free market that you like so much? A bunch of idiots who trade oil up to stratospheric heights only to watch as it collapses back to the ground? Greedy bastards who bid up tulips until a single tulip bulb was worth a house? Free markets are a costly way to do business esp. for the little guy.
Wrong. In the case of the banks, the free market represents investors with capital to deploy. If Dexia or Societe Generale are insolvent and need to recapitalize, the free market path would be for them to reach out to other banks or other investors who can either loan them the cash at a market rate of interest that is commensurate with the perceived risk of the loan not being repaid, or they can let the investors take an equity stake in the business in exchange for a cash infusion. Either way, you have sophisticated investors deciding whether or not the rewards are worth the risks.
Screw your sophisticated investors! Talk to be me about the 'sophisticated' investors in Bear Stearns, Lehman, WA Mutual, Merrill Lynch etc. You want to talk to me about sophisticated investors when the entire corp. system is rotten to the core............CEOs making millions while laying gold tile in their bathrooms.
After three frigging years of delays, Boeing finally delivers its first 787 to ANA. Guess what.........ANA is mad as hell. Why? The plane is 11 tons over weight. Talk to me about Boeing's sophisticated investors.
Like way too many Republicans, you put too much stock in the private side. Take one look at your IRA pre 2008 and then post 2008 and then tell me all about your wonderful free market system.
The Socialist path that the US and the European governments are taking is to use tax payer money, WITHOUT OUR CONSENT, to in many cases recapitalize the banks for free and backstop all their bad decisions. In this path, the bank executives can act with impunity and continue to take ridiculous risks and continue to make very bad decisions because what the hell, it's someone else's money and if their risks result in a disastrous loss of capital AGAIN, then it doesn't matter, because the Governments will just bail them out again. Government bailouts of banks have created the mother of all Moral Hazards and endless mis-allocation of capital.
Oh screw the socialist path. You don't even know what socialism is. If you did, you wouldn't be making such silly statements.
Why do you think we're on this endless meri-go-round?
Because of people like you who drink the kool aid and support candidates like the idiot Ron Paul and the questionable Rubio. |
