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What Happened to Market Discipline?

by John Stossel

Barack Obama says, "[Today's economic problems are] a stark reminder of the failures of ... an economic philosophy that sees any regulation at all as unwise and unnecessary" (http://tinyurl.com/45ssnp).

What? Does that mean that until last week the Bush administration embraced the free market? Nonsense. Governments at all levels have regulated and subsidized the housing and financial industries for years. Nothing changed under President Bush.

The government-backed Fann ...

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2 Comments | Post Comment
Posted by: liz
Comment: #1
Tue Sep 30, 2008 6:11 PM

Very well said and explained. They will pass a bailout, they are too scared not to, and the will of the American people be damned. It will further degrade everything good and fine that was America. What rot it has all become. They are criminal's. Jail them! NO bailout.

Posted by: Masako
Comment: #2
Wed Oct 1, 2008 7:38 PM

Jeez, Stossel, you must be smoking some sweet stuff. "It's not simply misunderstanding. It's demagoguery by people who will never admit that their "progressive" social policies have spawned a taxpayer bill that boggles the mind." So let me get this straight: It's welfare cheats and health care reform that got us into this mess, right? You and Palin should get together for a real good time in last gasp fantasyland. .............................................................................................................................................................................................................................................................................................................................................................................................................................................. Well, Stossel, Bush may not have embraced the "free" market to your taste, but he sure embraced the unregulated, something-for-nothing market that leaders supported by you have steadfastly advocated in their great struggle against the evil governmental monolith. It's not about "free" this time, buddy, it's about "criminal." It's about the tax that hurts the most: the stupidity tax, which ranges from lotteries, to gambling at the casino, to gambling "con cojones" as some Spanish speakers say (i.e., gambling in the stock market) to trickle down economics. .............................................................................................................................................................................................................................................................................................................................................................................................................................................. Do you really want to perish or survive independent of the government's power to keep us on the path of civilization? You think we should go back to tribal decision-making, rain dances, and witch doctors? ............................................................................................................................................................................................................................................................................................................................................................................................................................................. The kind of crap idiots like you pawn off on the populace is disturbingly like the fiddling that brought down the Roman Empire.

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