The Big Bailout

[dogcow666]

wow i was with him until he said lower capital requirements. As far as I understand that, this would allow banks to create more loans, backed by nothing than they already currently do. So this would just prolong the inevitable for how long?

[blogegog]

Has Nick Gilespie quit smoking weed yet? If he has, I want to be the first to congratulate him. Good job, Nick! Libertarianism is much better off without that crap.

[LliasiAsbi]

Clearly, you have a hostility against marijuana..

How irrelevant.

[blogegog]

Indeed I do! But I was just poking fun at him. I don't even know if he smokes weed. I'm just assuming he does because he talks about libertarianism so much.

[FolkTheory]

this guy (Dr. Arnold Kling) was my statistics proffessor!

[tekmatic38]

dude are you serious?

tell me more. what school dude?

[blogegog]

Hell yes! What the bald guy said! Bald guy for president! Who cares that Reason Magazine is just a vehicle to get weed legalized. They occasionally get some very smart non-stoners for interviews, and this time they scored big.

No bailout. Not now. Not ever. Let the invisible hand work its magic. And quit smoking weed, Nick Gilespie.

[XOmniverse]

He has copies of Snow Crash and Radicals for Capitalism. Awesome!

[Nickelodeon2002]

It's sad to see a "libertarian" encourage FDIC monitoring of banks....the government was what got us into the mess to start.

[Whoo69]

I also suggested from the very start letting these irresponsible firms fail, or at least giving them new leadership and REQUIRING them to abide by new and better regulations and actually be responsible. Doesn't the free market theory dictate that if a terrible firm fails, it's best to let it fail rather than pollute the market, so that room is open for better firms to come in? AIG, Lehman Brothers, Bear Sterns, Freddie Mac and Fannie Mae can kiss my ass. Let em go under.

[Whoo69]

It'll show Wall Street that we're not playing here. This is serious, and we're not gonna let them play us for fools. Screw handing over $700 Billion in taxpayer dollars for Wall St. I'm sick of all the corporate handouts and corporate welfare! Let the free market do its job for once, esp. the so-called "free market" Republicans.

If we don't bail out Wall St. now, it'll send a powerful message. Wall St. will HAVE to stop screwing up, because they won't get any 2nd chances.

[Whoo69]

I mean, $700 Billion is $200 Billion more than this year's fiscal deficit!!! We're gonna almost increase the national debt by $1 Trillion in a matter of weeks just for this. It's insane. It'll go from 9 1/2 to 10 1/2 trillion. National debt will equal 10/14ths of our GDP.

[Whoo69]

Which of course is 5/7ths, or 71%.

[LibertyPen]

Taxpayers, take notes and call your representatives.