Monday, March 1, 2010

Another Comment on Banking

Several times I have bemoaned the huge bonuses paid to Big Bankers, and Wall Street.

However, I should make something quite clear: I am NOT opposed to profits in general, nor large bonus checks. What I AM opposed to is paying them out of taxpayer bailout money.

If a business cannot succeed on its own merit, products and methods, it needs to fold. Period.
If a person can become the CEO and turn a company into a money-making venture on its own, then the CEO should be compensated as the company sees fit.

It is not the business of government to curb legitimate private enterprise from making money, nor it is the business of government to bail out money-losing private companies, and it is certainly not the business of government to do so with taxpayer money.

What government needs 42,000 paid lobbyists unless government can be bought?

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