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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (202282)	5/14/2009 3:58:06 PM
From: Galirayo	Read Replies (1) \| Respond to of 306849

>>Galirayo has been huffing and puffing because "he knew" what happens in bankruptcy and discovered he was very wrong.<< You have missed the Point entirely. The Government has no right to Strongarm Bondholders. Let them take their chances if they "Choose " to. Last I heard it "WAS" a Free Country.

To: Elroy Jetson who wrote (202282)	5/14/2009 5:36:45 PM
From: Galirayo	Respond to of 306849

Both Robert Kuttner, a long-time critic of free markets, and Richard Posner, a long-time supporter of free markets, recently made the same argument. Kuttner said “markets are not self-correcting. If they were, [then] Wall Street would not be lined up for trillions of dollars in government handouts.” Posner, in a recent WSJ Op-Ed said capitalism is “not inherently stable.” He argued that the seriousness of the downturn (he says it is the worst since the 1930s) is proven, “by the dizzying array of programs the government is deploying and the staggering amounts of money it is spending….” This “if the government is spending lots of money, then the economy must really be bad and markets don’t work” argument has been made by many analysts in recent months. But just because it is being used does not mean it is right. In fact, these statements of logic are deeply flawed and mistaken. [snip] In response to all of this, we propose a different argument, using different logic. If the government had not involved itself so deeply in this crisis, then the US economy would most likely have avoided a recession altogether. Capitalism is not broken. In fact, allowing the market system to deal with the problems of the last few years would have been much better than having the government do it. In our view, the government has committed arson and is now claiming that the building owners are liable for the amount it costs to put out the fire. freedomworks.org