« Obama's Utopia, Day 535 | Main | Not to Belabor the "Krugman Is an Idiot" Theme . . . »

July 09, 2010

Comments

But, Gina, don't you think we should have let them fail in the first place rather than go into more debt to save them?

I don't think the government should be "bailing out" private firms, but Geithner is going way beyond that:

When firms get into trouble in the future, he isn't just proposing to let them fail. "We won't give them a second chance," he tells NPR's Renee Montagne. "We will dismember them, put them out of existence."

What does that mean? If anyone in the Obama administration concludes that a business is "in trouble" they can "put them out of existence" and "dismember them."

That's too much power in Washington. Way too much. Dictatorial-level power.

Like any other heavy-handed law, it should certainly encourage lots of campaign contributions to the current president from nervous officers of financial firms.

And those who don't play the game will find out quickly what it means to be dismembered.

Remember what should be remembered, and forget what should be forgotten.Alter what is changeable, and accept what is mutable.

Re: If anyone in the Obama administration concludes that a business is "in trouble" they can "put them out of existence" and "dismember them."

That's a lot of power to wield and assumes that one can see the future perfectly. By that standard I perceive the Obama thugocracy to be "in trouble." Come November we have the power to "put them out of existence."

The comments to this entry are closed.

GINA COBB

  • The 2006 Weblog Awards
  • "This is a great blog."

WEBSITES TO EXPLORE

COMMENTS?

  • Before posting a comment, ask yourself whether it is polite, fair, and truthful. Comments are auto-deleted if they contain profanity (even with ast*ri*ks). Comments may also be edited or deleted if they include anything false, misleading, insulting, unethical, illogical or spamlike. Rude comments or spam result in a permanent ban of future comments.