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Showing posts from September, 2008

The Economic and Political Implications of the Bail-out

After listening to President Bush about the Bail-out plan, I could not stop but wonder why once again the government is getting people out of trouble at the expense of others who have not made the same mistakes. The government has intervened one more time in the economy (and not for good). It was not enough already for the law makers to worked by privatizing profits and socializing rick and costs. The current solution according to President Bush is a 700 billion dollars bail-out. In other words, this bail-out will make you and me pay for companies and other people who became blind folded and put themselves at a high risk. Now, social cost of government intervention in the economy has spread throughout the nation and it also will impact in the international markets. The political campaigns of Senators Obama and McCain have blamed the greed of Wall Street for this crisis. Greed is a factor in life that is always going to be present. It (greed) is a quality among people like gravity i