Let Them Fail?
September 30th, 2008. Published under General. No Comments.
Since the bailout measure failed so spectacularly on Monday, I’ve been doing a bit of reading on the “what if we don’t do anything” scenario.
Scott Adams (of Dilbert fame) asked the question in his blog today and asked if there were any stories out there that give more specifics as to not doing anything. A commenter linked to a story in Time magazine that says the risk-taking banks/institutions should be allowed to fail. The story also closes with the following quote:
“Let the poorly managed, overly risk-taking financial institutions fail! Always remember that Wall Street and the real economy are not the same thing. ”
I’m beginning to wonder the same thing.
Also, why is the government surprised that a measure that 80% of the American public doesn’t want got defeated 6 weeks before an election?
We definitely live in interesting times.
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