Monday, September 08, 2008

Government Meddling... Again

The financial community is talking this morning about the bailout of Fannie Mae & Freddie Mac. One article talked about how the US is giving up on capitalism, others are talking about how capitalism failed in this instance. Sorry. Wrong. These two entities were government made monsters, and they are now failing. They shouldn't have been created by the government in the first place, and now we have to bail them out. Government bailing out government created entities isn't free enterprise at work. We probably wouldn't be in this mortgage mess if the government hadn't been involved in the first place.

I am against too much government regulation and manipulation in the marketplace, whether it is about mortgages or dogs. Either way, it messes up a whole lot of people and results in unacceptable costs to everyone involved.

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