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Under what set of laws is our government choosing to bail out these businesses? Whose decision uses our system as a public underwriter of bad business choices and practices? What gives the US government the power to fund these corporations in a few cases of massive amounts and allows other businesses to fail? What right do they have to do that?
There comes a time in which the fundamentals that have been in place throughout our corporate systems must change. If our government now owns Freddie Mac, Fannie Mae, AIG, and no telling what other huge corporations, then there is no capitalism in any real sense. When profits weren’t used to backstop their companies against debts, these corporations were in default from that moment forward. They do know better. What right does our government have to take over these companies in order to keep them from failing? Do we live in a capitalist society or a communist one or a monarchy? What is it actually?
It looks like in practice, our government has become something else besides the America we were taught that it is. Our businesses have been based upon unsound principles of accounting and extraordinary lies of profitability. The economic foundation of the United States is now gone, whether the government runs in and takes over these companies or not. The economies of the world are being decimated by the actions our government have allowed during their watch and now, by the actions they are taking to “correct the damage.”
There are vast resources, tools and methods that could be chosen. Why aren’t they using these? How dare the US government take over companies who profited, lined their own pockets and refused to put profits back into the realistic shoring up of their continued success? Who are these people deciding to rescue the companies in a socialist structure of method and practice? Apparently, the United States of America is no longer a free market, capitalist society. The government just proved it.
Anybody that keeps believing it will all be okay – is delusional and not working with the facts.
Written by Cricket Diane C “Sparky” Phillips, 09-17-08