Wednesday, November 26, 2008

The Sector Formerly Known as Private

by Matthew Continetti - December 1st, 2008 (Publication Date) - Weekly Standard

Senate Democrats like Christopher Dodd and Charles Schumer want to set compensation rates and loan criteria for the banks that have accepted federal money. They want to overrule the boards and shareholders who normally determine CEO salary and bonuses. They want to force financial institutions to lend to consumers who may not be able to repay the debt. This, even though loan defaults are what got us into trouble in the first place.

At a time of crisis we have elected a government that wants to increase the use of the very poison that caused the crisis. With the permanence of everything ever passed in Washington, I do not understand why some Republicans think that Obama and the Democrats making things worse will somehow rebound to their benefit. Much of the damage that Jimmy Carter caused was never undone by Reagan. Much of the damage done by Barack Obama will never be undone as well. Free enterprise is probably never going to be a part of America again. Free enterprise will probably never be seen again until some nation goes through a revolution to rid itself of its socialist masters.


Post a Comment

<< Home