I get frustrated with friends who say they don't know exactly what a candidate stands for. Not only do the candidates have extensive policy ideas laid out - easy to access on campaign websites - but the political parties have platforms adopted at each convention.
Interestingly, the Republicans just adopted the following last month:
"We do not support government bailouts of private institutions. Government interference in the markets exacerbates problems in the marketplace and causes the free market to take longer to correct itself. We believe in the free market as the best tool to sustained prosperity and opportunity for all."
With the glaring exception of public education, I do generally believe in free markets. Although I think regulation is important to avoid monopoly and corruption, I do not think that huge companies that go broke need to be rescued - little ones never get that help! Who let AIG get so big that its demise would be "catastrophic for America" anyway???
What am I missing here? My great-grandfather owned three banks in MN the 1920's. They all closed during the depression (after his death) and my great-grandmother became a social pariah because her friends & neighbors didn't understand how it was possible that she didn't have all their money. She was suddenly broke too, but they didn't get it.
Today, our bank deposits are federally insured up to $100,000 - so that scenario will never happen again. That being the case, what's up with the bailouts? How is this good for you & me? I saw something that said my personal share of $700 billion is over $30,000 - sheesh!
It's starting to appear that the only folks in DC with integrity right now are the Republicans who are resisting a bailout. Gotta give 'em credit for walking their talk; not so McCain or Bush.
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