Sunday, September 28, 2008

Privatize profits, Socialize losses

This whole idea of a bail out package for irresponsible private banks and mortgage companies flows against the very foundation of a free market economy. Home prices are over inflated, the market must adjust prices like it would do for any other product or service, laying out a 700 billion dollar trough for these corrupt and incompetent members of the mortgage industry will do nothing but keep home prices artificially inflated and will do nothing to fix the over all problems with the economy. I guarantee you, if this bail out passes, it will not be the last bail out and it certainly will not be the largest.