Newt Gingrich Wants End to Bailouts
Newt Gingrich is out today with some helpful pointers for the Obama Administration. he wants an end to the bailouts that keep getting us into bigger messes.
Thanks to the Bush-Obama-Geithner policy of bailing out failing companies, we now have the worst of all possible scenarios: A taxpayer subsidized, government supervised private company; an unsustainable public/private hybrid that is too public to make its own decisions and too private to be responsible to the taxpayers that are keeping it alive.
Outrages like the fat cat bonuses currently dominating the headlines will only continue as long as the rule of politicians supplants the rule of law on Wall Street.
Congress should rethink this entire process. The dangers of a domino-like financial meltdown are real. But so, too, is the danger that the outrage of the American people will reach the point that we no longer trust the dire warnings — or the righteous indignation — coming from Washington.
You can check him out here.