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Regarding bailout
I complement Mr. Allen’s thoughtful editorial on the financial bailout. I agree with most of the points made, however it was incomplete on at least a couple of items. The editorial did not address in any depth why we got into this mess. It is impossible to keep a fair market economy with complete laissez-faire capitalism. We must have some restraints and regulations or greed will get us into trouble every time. This rush to deregulation got out of control during the administration of Ron Reagan. The GOP with the help of some blue dog Democrats pushed deregulation and we got the S&L bailout. The present Bush administration has not only pushed deregulation to the extreme, but has gone further and not enforced regulation laws that are on the books. We need a moderate middle-of-the-road position between some regulation of markets and some limited socialism.
Socialism is not new in this country. In fact it has been with us before we were a country. Some examples are: huge land grants to autocrats, land giveaways to the railroads, timber, mineral and oil rights given almost free to business. Dam building with taxpayers’ dollars to get nearly free water to agriculture and the list is much longer.
The difference between the above list of examples and socialism of a country like Norway is that most of the people share in the benefits. (I have knowledge of this because I worked and lived in Norway for a time.) In this country these socialistic benefits go to the wealthy at the top. Note: people who disagree will call it something else, but it is still socialism.
— Gail Parke Jr.
Dustin Petersen commented, on October 6, 2008 at 9:45 a.m.:
How can we think that Bush has a Laissez-faire attitud? Isnt bushing through a 700 billion bailout regulation? It sure is. So I think Bush has proven when you mess with the market you make it worst. Let the free market handle it. Lets regulate the secret federal reserve bank. That's where regulation is needed. On a another note, I lived in Ecuador for a few years and they have a socialist president. I can assure you the people were not sharing the money. The government is corrupt and steal the money from the people. Socialsim isn't the anwser to our problems. Getting out of debt, living within our means, balancing budgets, following and obeying the constituion, and lower taxes are the keys to getting us out of this crises. I think we can agree on one point, President Bush and congress havent done any of those things.
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