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Old 09-18-2008
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Re: September 18, 2008: America becomes a Socialist State

Quote:
Originally Posted by iamwhatiseem View Post
FEW bailouts??? FEW???
Okay well four. I don't like the idea of bailouts at all so I'm with you on that. But I think it was a lack of regulation that has caused this and usually regulation is regarded as socialist. So we either have regulation which is labeled as socialist, bailouts which are labeled as socialist, or giant collapses that go way beyond what we have seen because they haven't been allowed to go so far. I'm wondering what you would have thought had all four companies been left alone to fall and for it to spread like wildfire out into all other financial institutions both here and globally and eventually the greater economy further than what we have seen in our lifetimes. Or would you have rather seen more over site before which again many would call socialist. I know what you are against but I'm not sure exactly which direction we should either go in or had gone it before it lead to this. I am a capitalist and I'm all for markets being as free as possible but at some point you do need ground rules and at least admit the faults it does have in order to work with it and allow it to run smoothly rather than just sticking to pure Laissez-faire dogma without any regard for the consequences.
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