Obama and Geithner have a plan - It’s just a bad one.
In Obama’s recent Prime-Time speech Ã‚Â he said that he plans to attack this financial crisis on all fronts.Ã‚Â Geithner is planning to detail to congress his list of new regulationsÃ‚Â he would like to impose on the financial sector to keep something like this from happening again. The one thing that would have made sure it was far less likely for this to happen everyone said couldn’t be done - we simply couldn’t let these businesses fail.
Letting more of these businesses fail would revitalize the economy and their respective industries. If suddenly the big 3 disappeared there would be entrepreneurs eagerly buying their old factories with dreams of starting the next big car company. The ‘lost jobs’ would only remain lost for a short while. We would have a new generation of people in top positions within these industries with new ideas. America used to be a land of opportunity… A land where creativity and hard work could put you on top.Ã‚Â
Now it seems, however, that America is the land of stagnation, the land where creativity goes to die, the land where entrepreneurs are trampled by the government, a place where it is more important to maintain the status quo and keep the rich on top than it is to reward good ideas and good business. Make no mistake these bailouts aren’t about the tax payer, they aren’t about the lost jobs, they aren’t really about the economic ramifications of AIG going bankrupt. these bailouts are about keeping the rich where they are so they can continue to line the pockets of politicians on both sides of the line.
You can’t reward a dog for shitting on your floor and say you’ll fix his behavior by watching him more closely.