Straight Talk
Sunday, March 30th, 2008I ran across an interesting article in the NY Times today. Gail Collins obviously believes in cradle to grave socialism, but she writes well.
She sarcastically lambasts McCain for wanting the current crop of hustlers to fail on their own, and she doesn’t seem to understand the consequences of what she’s advocating. If people (and companies) are bailed out for their bad choices, they will continue to make bad choices. Even worse, others will be encouraged to make bad choices, thus compounding the problem in the future when more people need help.
This is no different than Medicare/Medicaid, food stamps, subsidized housing, welfare, etc. Let people fail - and let them bear the consequences of their failures - and they improve their decisions in the future. Bail them out and they’ll continue to need help forever.
gk
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