Friday, October 3, 2008

My email to George Bush

This bailout of Wall Street is outrageous. This is a betrayal of the American People. Keynesian Economics didn't work for FDR, and they won't work for this mess. The only way to fix Wall Street is to allow moral hazards to exist to prevent unscrupulous lending practices. Cutting the Capital Gains Tax to ZERO percent would have stimulated investment in banks and other businesses, providing the capital necessary to leverage borrowing and free up lending to other institutions. If President Bush really believed in Free Enterprise, he would NOT have sought a solution that required Federal Government interference in a Free Market. This is Marxism when the Federal Government buys portions of Private Enterprises. This law is BULLSHIT!

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