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My personal musings about anything that gets on my radar screen--heavily dominated by politics.

2008-10-01

If I Were In Congress . . . 

. . . I would be pushing for a Firewall, rather than a "Bailout."

In other words, I would put structures and devices in place around the failing banks and institutions, like a fence, that could prevent the problem from spreading to other parts of the economy. But I would do nothingto help out the institutions that are guilty of bad business--let 'em fail.

Creative destruction is a key component to a market economy--when businesses engage in bad practices, they should be allowed to fail. What will come up from the ashes will be better for the economy as a whole, even if there is some transitional pain.

Probably a good thing that I'm not in Congress.
Posted by: Michael / 10/01/2008 06:32:00 AM

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