Craig:
> No doubt this is "crony capitalism" at its worst.
> I serve on your Board of
> Directors & vote you alot of money, while you serve on
> my Board & vote
> me alot. The multi-billion $ bailout is this cronism at
> the government level.
SA:
This is where I see morals stepping in. The free market is not to be a vacuum
of morals, a vacuum of values, a vacuum of quality. This, I think, we agree
on. I'm becoming more and more inclined to be against this bailout as I strive
to educate myself in what inflation means and such. There are so many
questions about the gov't stepping in to bailout mistakes risky investors made.
I find it troubling to learn that an Act made back in the Great Depression
days to prevent investments on wall street from intermixing too closely with
deposit banks in the future, which was a part of the problem that lead into the
Great Depression, was repelled and rid of in 1999. This Act was called the
Glass-Steagall Act of 1933. Your right. I think cronism plays an angle in
this.
night,
SA
SA
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