Give the house credit

They listened to the people and they acted. Now, I don't know if it will hold, but at least they have stopped the takeover for now. Perhaps free market solutions will be tried and we will free businesses to solve their own crisis.

This is a signal that the American people are not ready for socialism or not ready to use their money to bail anyone out on such a large scale. I'm not sure if it's a libertarian reaction or just a middle finger to investors. Either way, the result is that Americans are willing to face some tough times rather than hand over unlimited power.

Who knows? Times might not be as tough as the alarmists would have us believe. It appears that those banks who are weak will find buyers and a cleansing of the sytem will occur. Perhaps this will teach investors the difference between calculated risks and foolish risks -- depending on the government (taxpayers) to bail out foolish investments in loans with no equity is a stupid calculation that should be punished.

Maybe now we can demand that government get out of financing altogether and let investors succeed or fail according to their choices.

Comments

[Vance Shutes]

Mike,

Our first success for the Liberal Republic party!

[Mike Farmer]

Yes, we'll take credit for blocking it.