Blonde moment

And the silver spoon.

Wednesday, October 15, 2008

Bush is a commie…

No, really, he is. I used to be content to say he wasn’t a conservative. But he is about as red as Putin. From the Wall Street Journal (subscribers only, I’ll print it off for Mom and Dad) on the bail out of banks :
“…the most animated response came from Wells Fargo Chairman Richard Kovacevich, say people present. Why was this necessary? he asked. Why did the government need to buy stakes in these banks?...” And, “After Mr. Kovacevich voiced his concerns, Mr. Paulson described the deal starkly. He told the Wells Fargo chairman he could accept the government's money or risk going without the infusion. If the company found it needed capital later and Mr. Kovacevich couldn't raise money privately, Mr. Paulson promised the government wouldn't be so generous the second time around.”

Doesn’t sound voluntary, does it? I mean Paulson may as well have said, “The government will be confiscating shares of your bank.” I would rather Wells Fargo (my bank) have gone down in a blaze of glory than to give into such tactics. This, my friends, is what we call communism. Say what you will about the banking crisis and the bailout. However, in my very basic understanding of economics, in a capitalist society, transactions are voluntary and mutually beneficial. It sounds like, at least on Wells Fargo’s end, the transaction was neither voluntary nor mutually beneficial. Or that is the implication. That is totalitarianism at its best.

2 Comments:

  • At 7:03 PM , Blogger Gauntlets said...

    I was thinking this very thing, but I'm glad you're the one who said it. ;)

    Get your guns now, before it's too late.

     
  • At 8:55 PM , Blogger Liz said...

    Couldn't say it better! Freedom is easy to give away; hard to get back.

     

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