Recently I was visiting Digg.com. I get a kick out of this website. It is horribly liberal in its readership, but it is still fun to read some of the comments (even the lame ones).
Anyway, I stumbled across a post by a Scott who said, " Just wait until Washington Mutual fails. They are going to be the next big bank to either get a Fed loan, bought out, or enter into FDIC receivership. I think when this happens it will have a greater psychological effect on Main Street b/c more "average Americans" do business with WaMu than with Merrill or Lehman Brothers."
This was my reply:
Scott, you make some good points. but here is the real underlying problem. The Government should NOT bail these companies out. The free market needs to prevail. As the Government continues to cover the failures of institutions that used Government credit to grow, the cost of doing business only gets higher for the taxpayer. There will come a time when we (the taxpayers) simply cannot pay the bill. Inflation, loss of jobs, oil shortages, and economy problems are the result of huge Government spending programs that were built on credit. Government needs to become lean and mean. If Obama can do that then I will vote for him.. but let's get real, that is NOT what Obama or the Democrats represent. They believe in socialism, bigger government, and more spending programs. That's how they stay in power. And please, don't tell me this election is about who looks, sounds, or feels better. That is BS. This election is about getting control of Government that is out of control. It means getting back to the basics of reducing government spending so that businesses can grow, costs can come down, and the people can prosper.
Cheers,
Bob
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