March 18, 2009
Quote of the Day from The One
Speaking yet again on the AIG bonus issue the one said:
And it's appropriate for us to have some regulatory mechanisms in place to ensure that we never have a situation where the government has to step in or you've got taxpayers who are having to foot the bill for other people's mistakes.
I agree 100%
Yes, that's right. I said I agree with The One.
I agree there should be a regulation that prevents the government from stepping in and footing the bill for other people's mistakes. I'll go even further and suggest that there should be a Constitutional Amendment expressly prohibiting the government bailing out failing companies and barring the federal government from taking ownership of any percentage of a corporation.
I'm starting to think though that maybe The One and I aren't quite on the same page on this.
Here's a couple of points I wish would penetrate his Teleprompter veneer.
1. If the government insists on running corporations via statute and regulation, government, and therefore the taxpayers, will always always be footing the bill for the results.
2. If you don't want the tax payers footing the bill, stop writing the checks.
Posted by: Stephen Macklin at 05:41 PM | No Comments | Add Comment
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