Somebody once said we are all Americans, sometimes born in the wrong places.
I decided to join my new homeland.
I've come to appreciate the ideals that helped create this great country.
We haven't had capitalism since Roosevelt killed it with his New Deal
. I have a bumper sticker that says "Brink back capitalism."This
explains it well.
"Some kind of federal reaction is warranted because the federal government is a major cause of the crisis, and taxpayers are already on the hook for a good chunk of the financial failout. For years, Congress protected and egged on Fannie Mae and Freddie Mac while refusing even to consider rethinking the mortgage-interest tax deduction that encourages investment in residential housing over other forms of capital formation. Federal policymakers compelled financial institutions to take on additional mortgage risk through regulatory blackmail (thanks, Barney Frank and ACORN!). The Federal Reserve moved its eye off the price-stability ball and alternatively loosened and tightened the money supply in whipsaw fashion. Millions of people responded to these perverse federal policies by taking on additional risk and steering more capital from more-productive investments to the housing market. To argue that because Washington has screwed things up in the past, it should stand back now and see what happens may be tempting, but it is based on an old fallacy. A good analogy is an arrow wound. If someone shoots you with a barbed arrow, your life may be threatened. That doesn't mean that the best response is just to yank it out, which will further imperil your life."