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11-12-2008, 01:09 AM #1
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Let the Bankrupt Banks Fail
Let the Bankrupt Banks Fail
Politics / Credit Crisis Bailouts
Nov 10, 2008 - 04:06 PM
By: Ayn_Rand
Everywhere today politicians are blaring that they must save America's financial institutions, alleging catastrophic risk to the economy were any to fail. Paulson and the entire Bush administration, in a discernible panic, are now pouring $700 billion into the big banks, having already bailed out AIG, Fannie Mae, Freddie Mac, and Bear Stearns to the tune of $300 billion.
Capitalism doesn't work, they declare, but fortunately the government is here to rescue us.
Sadly, they have it all backwards. The credit crisis is just more evidence that whenever the government supplants the free market and attempts to “manage,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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