“We are now in the golden age of thieves. And where I come from we put thieves in jail, we don’t bail them out.” — Rep. Pete Visclosky, Democrat Indiana.
Also, Jeffrey Miron makes a great point in his column. He makes the point that if any of the assets the government wants to buy had the potential to be profitable than a private market would have opened up for the assets. So, when you hear a congressman tell you we may make money on this deal, don’t drink the kool-aid. The free market would have solved the problem without the government if there was a solution to the problem. Since the free market doesn’t want to touch these loans and other debts, why should the tax payers. Something stinks in the land of Washington.
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