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Blog Entry 20 of 20 Libertarian Muses, Rants and Raves

Musings, Rantings and Ravings from perennial Libertarian Candidate for public office in Jefferson County, Colorado.

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Bailout or Looting?

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Contributed by: Jack Woehr on 11/26/2008

In addition to the trillion dollars already committed in direct bailouts in 2008, the Fed is guaranteeing 8.5 trillion more. EIGHT POINT FIVE TRILLION is almost the size of the entire national debt at the moment.

Is this a bailout or have the money boys and girls finally perfected the art of looting the national treasury?

In the 1800's, railroads were the recipients of government stimulus in the form of land grants. Right through the 20th century, unscrupulous railroad boards of directors would sell the land, take all the money out in dividends, and leave the railroad bankrupt and rotting.

That was a lot of work. It looks like it has gotten much easier: Bankrupt the company first, cry that you're too big to fail, and taxpayers will pay the bill.

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Jack Woehr

Golden , CO

Jack Woehr has posted 20 blog entries and 0 comments since joining on 7/15/2008. Jack Woehr 's average blog rating is 4.

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