 Rustee says: Thank goodness Congress approved that bailout. Otherwise, the economy might be tanking. What do you make of the bailout? Mort Zuckerman: But, if by a bailout it involves what the word suggests--that the U.S. government will buy toxic securities that are mostly mortgage-backed and not just at market value but representing an economic value that, if seen to maturity, there will then be an enormous windfall for the companies that got everybody in such difficulty--that's a problem. They will be rewarded in ways they shouldn't be. Their stocks will appreciate, and they will do very well. These assets will be bought out for prices above market value. ... These stocks will appreciate. But the tax payer will bear the price. The federal government should not be in these purchases, n... This is what happens when you deregulate essential aspects of society. There is not more irresponsible than encouraging a totally free market. It's like letting the toddlers play with a box full of sharp knives. I just keep wondering how the regulation junkies figured that the world actually worked before it became apparent that the people of the world could not function without some government twit telling us what is or is not correct behavior. You tell em horseshit, you've been on the road. Badly. Unjustly. Corruptly. That is how the world ran before regulation. Just check history, if you don't believe me. I don't believe. |
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