Barry Goldwater, Jr. was on Fox News Network this morning discussing the financial bailout with the economist, Neil Cavuto. As you can imagine, the lively discussion centered on capitalism and whether there was even a need for Congress to bail out Wall Street, as requested by Treasury Secretary Henry Paulson.
Goldwater, Jr. was quite clear in his disapproval of a national bailout by a Republican president. He and Neil Cavuto share the same opinion that the markets should not be manipulated by the government with a large influx taxpayer cash, as requested by President Bush.
The ending of this interview was a "classic Goldwater" moment. Barry Goldwater, Jr. quoted his father, who is considered to be the "father of the Conservative Movement" in this country, by saying, "You don't let your dog guard your food, so then why would you let the Congress guard your money."
2 comments:
Another perspective:
http://www.washingtonpost.com/wp-dyn/content/article/2008/09/26/AR2008092602838.html
Bailout is part of long American tradition of government involvement in keeping markets from imploding.
Bailouts have been a long tradition of government???
This failure was caused by Community Reinvestment Act passed during the Carter administration, and relaxed by the Clinton administration, to put people into homes that could not afford them.
Do you remember 18% interest rates of the 1970's? Well, hold onto your hat because if the Congress passes this bailout, we are headed down the road to socialism!
The "government" needs to step out of the way & let capitalism work.
This "credit crunch" all revolves around class warfare, pitting the "haves" against the "have-nots", and the collapse system caused by this sub-prime failure writing bad loans, by bad people...
Post a Comment