Goldman
join:2002-06-21
Maumelle, AR
1 edit | reply to satellite68
Re: Therein lies the rub
said by satellite68  : quote:
How, in the name of sweet Jesus, is meddling in the financial markets NOT similar to government intervention in other areas (say, broadband for instance)? Meddling in financial markets IS similar, but much worse for our long term stability. There is no incentive for these institutions to behave if they know they are "too big to allow to fail" This mindset leads to more and bigger bailouts as well as bailouts of corporations that should not be saved because of irresponsibility or because they are simply unable to compete in the global market (see: U.S. automakers) These bailouts may relieve some short term pain, but the pain will have to come one day when we are unable to borrow any more to prop up our lifestyle. When that day comes, broadband will be the least of our worries. |
