The Mudcat Café TM
Thread #114650   Message #2453881
Posted By: Wolfgang
30-Sep-08 - 12:20 PM
Thread Name: BS: The Bailout
Subject: RE: BS: The Bailout
America, where it pays to fail (A two-part article from DER SPIEGEL)

The same short-term way of thinking that triggered the disaster in the first place is now supposed to bring it to an end. The government is attempting to put out the fire with fuel, not water. In fact, it is precisely the same fuel that sparked the flames on Wall Street in the first place: borrowed money....
American-style capitalism hasn't died yet, but it is merely preparing its own demise. The history of these days is the history of a death that has already been announced....


A part of America has still not understood that in the long run a market economy works better with controls. A government who pays for the losses of the overly greedy with the (not yet earned) taxes of the masses should at least in compensation request the right to control in future how this money is used.

Wolfgang