Why this bailout is NOT terrible
Saturday, February 21, 2009 at 17:21 I’ve been harping on this for a while now, so I hope my regular readers will bear with me. At breakfast out this morning my mother continued the “bad behavior” drumbeat in regard to corporations and their CEOs. According to Winifred, this is the cause of it all. Corporations should be nice, and care about the environment yada yada. You would have been proud of me. I didn’t rise to the bait. She’s 91-going-on-92 years old and it would have been pointless.
Let me say it one more time: corporations are not people. They are bundles of contracts. They have no ethics or morality inherent in them. That’s why they require regulation by a government that has it head pulled out of its own backside. Americans made money ass over bandbox for decades in the middle of the last century - often referred to as the Golden Period of America - in spite of all the horrendous regulations. Gee, if regulations on corporations were all just inherently bad, how could that have happened? Let’s all go ask Phil Gramm - with some tar and a bag of feathers in hand.
So this afternoon, when I read this article from The Motley Fool online investment newsletter, which we’ve subscribed to forever - and got out of the market well in advance of this crisis, thank you very much Fools - I knew I had to post it.
