As both candidates brag about wanting more regulation for Wall Street, how about a call from “we the people” for more regulation of government. This bailout nonsense has got to stop. I understand why they did it with Fannie and Freddie. It wasn’t because companies can’t be trusted, it was because the government screwed up with these two companies over the course of 75+ years. Fannie and Freddie were ceated by the feds, sold (partially by the feds), and the elected members of the federal government were effectively on their payroll, allowing Fannie and Freddie the chance to do virtually anything they wanted and knowing they had a free insurance policy from the government. ENOUGH! Do you really think the companies would have let it come to this and taken all of those risks if they didn’t know the government would be there to bail them out when it all came crashing down? So why should we, the taxpayers of America, trust the federal government with MORE regulation? Why should we allow them to bail out more and more companies? We don’t need more regulation of Wall Street; we need more regulation over Washington!
In the words of Ronald Reagan: “Government is not the solution to our problem, government IS the problem.”
Here is the text from Reagan’s first inaugural address.
“But great as our tax burden is, it has not kept pace with public spending. For decades we have piled deficit upon deficit, mortgaging our future and our children’s future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals.
You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we’re not bound by that same limitation? We must act today in order to preserve tomorrow. And let there be no misunderstanding: We are going to begin to act, beginning today.
The economic ills we suffer have come upon us over several decades. They will not go away in days, weeks, or months, but they will go away. They will go away because we as Americans have the capacity now, as we’ve had in the past, to do whatever needs to be done to preserve this last and greatest bastion of freedom.
In this present crisis, government is not the solution to our problem; government is the problem. From time to time we’ve been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else?”