Thursday, February 12, 2009

Playing it safe?????

Two items, along the same lines, caught my attention today (one in the New York Times, the other the Washington Post); I must admit that one side of me wonders if the (capitalist)system is worth bailing out whilst, at the same time, it should be obvious to anyone that without some kind of bailing out action such vast numbers of innocent people are going to suffer!

"And the argument that our culture won’t stand for nationalization — well, our culture isn’t too friendly towards bank bailouts of any kind. Yet those bailouts are necessary; and even in America they may be more palatable if taxpayers at least get to throw the bums out." - Paul Krugman : Obama on nationalization

"Geithner did not want the administration to seem leftist, so he rejected the temporary nationalization of the bad banks. Yet the advantage of nationalization is that it's straightforward: The government would take over the bad banks -- as opposed to throwing endless sums of money at them -- clean them up, and sell them off." - E.J.Dionne Jr.:Lost in the Middle

1 comment:

Penny said...

Suffering is good for the soul, Mal, as we know. Let it all find its own level. Pen.