Just how big is that bailout anyway?
According to an article over at Yahoo Finance, the bailout is currently about 3.5 trillion dollars. This is money “given” from you and I to companies that made poor decisions.
The model of capitalism is ideally similar to that of “survival of the fittest.” Which means that over time, the weaker business ideas die off, and the new successful ones emerge and stay. When the environment changes, some businesses have to fail, and some new ones have to succeed.
What has happened here, is we have introduced a large food supply, if you will, to a dying breed of poorly-managed corporations. These companies should have died out. They would have, under a better treasury department, been forced to file for bankruptcy. Their assets would have been split up, their CEOs would have been sorted through, and a better company would have emerged. That’s how it’s supposed to happen.
I encourage you all to take a listen to the first 18 minutes of Mark Levin’s 11/12/2008 broadcast. On the audio page, you’ll find a link to that broadcast (available as a stream, and as a download). Or just click here. Download it to an ipod if you want. It’s worth a listen. If you enjoy it, Mark has a podcast and you can automatically download each show (for free!) each day.
For those of you that don’t know, Mark is a lawyer that specializes in constitutional law, and a former political advisor to several people on Ronald Reagan’s cabinet. I think he may be the most intelligent voice of talk radio. Give it a listen, you’ll probably learn something.