Beeker's Words

Please read this article by Jeffrey A. Miron. He says everything I have been thinking.  This mess is because our government decided to guarantee money lent to individuals who had poor credit, an inability to budget, and had no understanding of the mortgages they had agreed to pay. Versus throwing money at the problem, the government needs to allow these companies to go bankrupt. Bankruptcy will keep those who made these poor decisions from benefiting from a taxpayer bailout and instead hold them accountable for their risky and ill advised money lending practices. There are those of you who say that the economy will collapse, but I think the reality is that as long as their is potential for profit somewhere, the economy will eventually rebound and maybe as a nation we will take responsibility for our own financial well being and start living within our means.