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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (65913)	8/7/1999 3:53:00 PM
From: Don Lloyd	Respond to of 132070

Mike - house.gov "...If a businessman comes to a rational person and says, "I want to expand into a new territory, but the downside is that it is an area that is fraught with civil unrest, is economically unsound, the workforce is untrained and we probably won't make a profit." The prudent investor would obviously not take the risk. But under our current system, that same businessman can make his move with the knowledge that the taxpayers of the United States will bail him out. This bailout comes from several different mechanisms, like the Export-Import Bank and the Overseas Private Investment Corporation. This absurdity that passes for policy is made all the more disgusting when one recognizes that working families, struggling to make ends meet, are being held liable for business decisions that the wealthiest of private investors would likely not cover. Worse still is that if this risky investment finally has some measure of success, the taxpayer gets no benefit despite the exposure to liability; thus the costs are socialized while the profits are internalized. Of course, grateful recipients of the largess generously fill the campaign coffers of those who vote for these gross subsidies..." Regards, Don