Tuesday, September 30, 2008
Bailout
In the last few weeks the economy of the United States has almost completely collapsed. Major financial institutions have asked congress to bail them out with taxpayer money. 700,000,000,000,000, thats 700 billion dollars, to be exact. However this figure will likely go higher, some economists estimate figures of over a trillion dollars. This is not right. The american tax payer should not have to pay for the bad practices and investments of wall street. Our economy is a free market and when it has problems it should not be the responsibility nor the duty of the fed to regulate something that is supposed to free. There is another name for when you regulate the free market, its called socialism. While I do not totally disagree with socialism, I do think that a truly free market is far better then any market a government could regulate. Our government simply does not work fast enough to adequately adapt to changes and trends in the market.
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