Why Rep. Jeb Hensarling will be voting "No" on the latest version of the Paulson plan:
In my heart and in my mind, I believe that this plan is fraught with unintended consequences, would force generations of taxpayers to pick up the tab for Wall Street losses, and could permanently and fundamentally change the role of government in the American free enterprise system. Once the government socializes losses, it will soon socialize profits. If we lose our ability to fail, we will soon lose our ability to succeed. If we bail out risky behavior, we will soon see even riskier behavior.
I don't know if we can afford the time he asks for, but those words really resonate with this conservative.
In my heart and in my mind, I believe that this plan is fraught with unintended consequences, would force generations of taxpayers to pick up the tab for Wall Street losses, and could permanently and fundamentally change the role of government in the American free enterprise system. Once the government socializes losses, it will soon socialize profits. If we lose our ability to fail, we will soon lose our ability to succeed. If we bail out risky behavior, we will soon see even riskier behavior.
I don't know if we can afford the time he asks for, but those words really resonate with this conservative.
posted by Matt | 11:47 AM
1 Comments:
Well--I mean, he's 100% correct. I'm not sure if we have the time he asks for, but I'm also quite sure that we don't have the time to socialize the economy.
Government has no understanding of finance, and it frustrates the heck out of me. All gov. employees need to take a Dave Ramsey class.
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