Good Seeing They Won't Bail Everyone Out

Crisis on Wall Street as Lehman Totters,
Merrill Is Sold, AIG Seeks to Raise Cash

Fed Will Expand Its Lending Arsenal in a Bid to Calm Markets;
Moves Cap a Momentous Weekend for American Finance
By CARRICK MOLLENKAMP, SUSANNE CRAIG, SERENA NG and AARON LUCCHETTI
September 15, 2008; Page A1
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The American financial system was shaken to its core on Sunday. Lehman Brothers Holdings Inc. faced the prospect of liquidation, and Merrill Lynch & Co. agreed to be sold to Bank of America Corp.

The U.S. government, which bailed out Fannie Mae and Freddie Mac a week ago and orchestrated the sale of Bear Stearns Cos. to J.P. Morgan Chase & Co. in March, played much tougher with Lehman. It refused to provide a financial backstop to potential buyers.

people must understand this "crisis" was not brought on by free markets this "crisis" was brought on by big government. There are no free markets or real capitalism in these or really any markets any longer.

These failed policies are the failed policies of over twenty years, NOT Bush's measly eight. This whole philosophy must be changed, and sadly, from Obama and McCain, we'll probably just get more of the same.

The Obama campaign continues to blame the "failed policies of the Bush Administration" for this (partially true), but no one in the press is asking them HOW those "failed policies" did this. They usually follow with the usual class envy crap and leave it at that.

Government must be drastically reduced; they must get out of the way of that which must come to pass and stop being an indulgent mommy and daddy. Thankfully, they are going to let this one fail, as they SHOULD have done with the failed government programs known as Fannie and Freddie.

Markets are above all, communications systems. Too much government muddies those communications systems, and leads to what we are dealing with now. It also creates false "bubbles" which eventually burst, and cause more damage than if the natural business cycle were allowed to run its course. Both big government Democrats and big government Republicans are out of touch with this.

Only Ron Paul on the Republican side, and Bob Barr from the Libertarian Party, seem to understand this (See America Needs “Surge” in Fiscal Responsibility, Says Bob Barr)