Governement help = Pragmatism, not socialism
 

Financial markets need governments to set rules for them; and when markets fail, governments are often best placed to get them going again. That?s pragmatism, not socialism. Helping bankers is not an end in itself. If the government could save the credit markets without bailing out the bankers, it should do so. But it cannot. Main Street needs Wall Street; and both need Washington. Politicians?and President George Bush is the most culpable among them ?have failed to explain this.

I started a thread a few weeks ago before the crisis really hit, about the "free" market and was told the free market was better than socialism.

Bankers, stock exchange, commodity dealers, business men in general need laws they have to follow. Laws that are enforced effectively and those who break them need to be punished enough to deter others.

Failure to do this will result in what we have today. A few who got very rich and left us paying the bill.

The "free" market is not free. We are paying for it today.

The financial market is not free... trying making your own currency, and open up banks to spread it. My guess is that you will be in jail.

Privatize money, and the market will be free, until then its just another sector operated by the goverment :2 cents:

its just a type of corporate welfare ...

Actually the money is privatized right now, the main problem is that there is nothing backing it.

Giving someone a monopoly is not a free market.

In Economics, a monopoly (from Greek monos , alone or single + polein , to sell) exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it. Monopolies are thus characterized by a lack of economic competition for the good or service that they provide and a lack of viable substitute goods.

http://en.wikipedia.org/wiki/Monopoly

Helping and taking ownership are two different things. :2 cents:

If the usa federal government was most concerned about credit markets, they could have spent 700B to create a new federal agency which provides direct loans to individuals and businesses.

Instead, they will fund private banks with 700B in hopes that credit will "trickle-down". In other words, they bullshitted the American people in order to compensate private banks for their losses. It is corporate welfare on a massive scale.

Notice how they waited until september 2008 to declare a crisis. they wanted to get the 700B while GW bush was still in office and they waited until right before the presidential election in hopes that congress would approve it in order to avoid election controversy.

In order to get 700B, they used scare tactics. The big banks overplayed their hand. now, the world is in panic because the big banks terrified people in order to get the 700B. These powerful bankers are not simply thieves, they are dangerous and should be in prison. they intentionally destabilized the usa economy in order to get 700B (ransom).

The solution is to end the monopoly which the federal banks have on the money. In order words, allow private companies/individuals to create money which competes with the usd in order to create competition in the currency business. this will reduce the wealth and power that big banks have over Americans and the world.

And I never said that, I was just pointing out the scam.

Do you think the average McCain supporter could comprehend that? They still believe the Earth is 6000 years old.