Free In Idaho!

First they said no.  Then they did it anyway.  The Feds took over AIG last night.   But it’s ok, really, don’t be worried about it.

The interests of taxpayers are protected by key terms of the loan. The loan is collateralized by all the assets of AIG, and of its primary non-regulated subsidiaries. These assets include the stock of substantially all of the regulated subsidiaries. The loan is expected to be repaid from the proceeds of the sale of the firm’s assets. The U.S. government will receive a 79.9 percent equity interest in AIG and has the right to veto the payment of dividends to common and preferred shareholders.

Fannie, Freddie, AIG… who’s next? WaMu? Some other bank? One of the big three auto makers? An airline? Or maybe one of the evil oil companies like the Democrats were threatening a little while back (and Bill O’Bloviate was sputtering about yesterday).

It’s all Capitalism’s fault. It doesn’t work. The truly enlightened way of doing things is with government oversight, ownership, and control of all major industries. We don’t have enough oversight and regulation yet, and the greedy capitalists have screwed everything up. The government NEEDS to step in and make it all right. You just wait and see, they’ll prove it to you.

The Depression was the perfect excuse for the Progressives among us and FDR to initiate the most widespread encroachment of government on the private sector this country had ever seen.  The Constitution was run roughshod by FDR under the guise of saving the economy.   Today’s Progressives are doing it again.  Wake up folks, they just signed you and your children up for another gazillion dollars in taxes. Charlie Rangel and Chris Dodd thank you. And Alan Greenspan, Helicopter Ben, and the suits at the Fed say “shut up and write the check”.

So while America is watching “Dances With Stars” and the political junkies are arguing about trivial cow plop like emails and lipstick, major chunks of our economy are being taken over by unelected government bureaucrats.  How are you with that?  I say, let them fail!  In a free economy a certain amount of pain is necessary, especially when you get rid of the greedy and the stupid.  It makes the system stronger.  When the government steps in to rescue the greedy and the stupid, all it does is reward the thieves and the incompetents, and robs the livelihood of the successful.  Oh, wait… that IS what government does now, isn’t it?  ( I read a book like that once)

And you think it’s about your guns first. Not so much.

This entry was posted on Wednesday, September 17th, 2008 at 6:24 am and is filed under Economy, Freedom. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.