“Free” doesn’t always mean there’s no cost
September 15th, 2008
From folkbum’s rambles and rants:
There will be a flurry of conservative hair-splitting and excuses, generic cialis illness but the disaster that is happening right now on Wall Street with the collapse of Lehman Brothers thanks to the subprime mess should among rational thinking people put a stake into the heart of the right wing notion of hands off when it comes to the market.
This shows a woeful misunderstanding of free markets and how conservatives feel about them.
A free market means that people are free to succeed AND free to fail.
Lehman Brothers made bad decisions and should fail as a result of them. It’s not government’s job to protect corporations from their own stupidity.
Entry Filed under: Politics
2 Comments Add your own
1. David Casper | September 15th, 2008 at 12:37 pm
Y’know, it could actually be said that because Fannie and Freddie, both GSEs, had such liberal lending guidelines, which in turn were used by Lehman in securitizing all these sub-prime loans, perhaps it was government involvement in the first place that caused a lot of this mess.
2. grumps | September 16th, 2008 at 11:11 am
Or, it could just as easily be said that corporate venality abetted by Phil Gramm-led deregulation has taken the savings of hundreds of thousands of Americans and converted them into pocket lining for those who got out early.
Leave a Comment
You must be logged in to post a comment.