Our country has taught every major company that they are too big to fail. These companies have driven themselves to the failure that we now see and instead of letting them collapse the US government has decided to prop them up. The free market system has been abandoned in the name of survival much like freedom has been tossed out the window in the name of fighting terrorism. Tossing money into the fire will not save these companies.
We have to think about the reason why all these companies are failing. They aren't failing because they made the best decisions and spent their money wisely. For whatever reason they are failing due to their own actions. What is going to happen once these mega corps have their bailouts? Ask AIG, they have been sending their worthless big-wigs on vacations and to resorts at our expense. Banks are hording the cash--not lending like they were supposed to--and instead are buying up other bank's assets. When are we going to learn?
We, meaning the government, will never learn. President Bush gave a speech today at the Manhattan Institute in New York where he defended capitalism. He said that too much government in the free markets is bad. Is it Mr. President? Then why the hell do we keep interfering? Let me guess, because we have to say them or face dire consequences. I sure am tired of hearing how bad things are going to be so that the government can pile garbage on us which is just as bad. Step away from the cliff Mr. Government and put down that check.
The disregard for our free markets is just one more reason why President Bush can no longer be called a conservative. Any individual that supports these bailouts is not a conservative. Conservatism is full of harsh realities. The harsh reality here is that when a company makes bad decisions or goes into the red that they have to fail. Simple as that, if you are going to fail you are going to fail. What has happened here is the government is stepping in to stop the bleeding. It has applied a tourniquet to a broken limb that will never heal.
The GOP is facing an identity crises. Does President Bush represent what they describe as conservatism? Does John McCain better represent their version of conservatism? If the GOP's version of conservatism is not Reagan conservatism then they are completely screwed. I will not participate in this party if they feel liberalism is ok if times get hard enough. The coming Obama administration isn't so scary anymore. Why? Because it's going to feel exactly the same as it does now. Home sweet home.
Sit back and watch the world burn.