Obama's Pending Financial Crisis

The president wants us to believe that unless we enact his policies on financial reform that we will endure another financial crisis. Fresh off nationalizing 16% of the American economy, he off to take another huge bite out of freedom. The president claims the same same loopholes of the system still exist and therefore the large financial institutions will just head down the same path. Really? What the president is really saying is that business does not learn from their mistakes but rather needs the heavy hand of the U.S. government to control them in order to prevent them from repeating their own misery. I doubt it would happen that way. Will they make mistakes? Yes. Will we see another recession? Yes. While a recession is painful, it is a necessary evil in a free market economy. We need the system to flush out the poorly managed and inefficiently run operations. In short, we need bad companies to fail so that they can be replaced by more efficient ones to ensure that we as a nation can compete in the global economy. We have controls for those who truly abuse the system. It's called criminal law. We don't need the government controlling the financial sector to the point of preventing the next great expansion which might last 20 or 30 years just so we can prevent the needed cleansing of a recession that would last two years. The president wants you to believe that we need much more reform of the financial system than is actually necessary. He wants you to believe that the bankers cannot be trusted to learn a lesson on their own. He wants you to believe that a nationalized financial system is necessary to protect you. Do not believe him. If we are going to reform something let's reform mortgage lending. We hear everyday about the thousands more who are losing their homes. What we don't hear is that each and every one of them signed an mortgage agreement. the vast majority of those who are now in foreclosure are there because they made poor choices and bought more home than they could actually afford. They took a gamble on the real estate market and lost. What message are we sending to the masses when we fail to hold them accountable for their own actions. Why should you or anybody else not do the same thing the next time knowing that if you are wrong you don't have to suffer the consequences of your decision but rather will be bailed out by the government and the expense of future generations?

Those Greedy Bastards

How did we get to the point where the people who want to keep what they have earned are considered "greedy" and those who want what others have earned have somehow acquired the "right" to the earnings of others? I think that's backwards.

An Interesting Read - de blog

I'd like to give a quick shout out to a friend who has just launched her blog. She's a terrific writer and will really make you think. Give it a try; I am sure you will find her writing some of the best you've read. If you're a guy, don't be scared off by the fact that she claims it's writing for women. There'll be plenty there for you too. Here's the link. http://www.deblogsite.com/