Letter on the Bailout

 Posted by on 10 October 2008 at 11:38 am  Economics, Finance, Politics
Oct 102008

On September 27th, I sent the following letter on the bailout to various papers in Colorado. I don’t think it was printed — although I haven’t checked. In any case, I thought I should post it here:

Are politicians in Washington trying to sink the country into a depression? It seems so. The current financial crisis was created by government controls and subsidies. Now politicians want to inject more of that poison into the markets.

Financial meltdowns are the inevitable product of bureaucratic meddling. The health of the economy requires the opposite: freedom. The government should not bail out any Wall Street firms — or anyone else. The ban on shorting financial stocks should be lifted immediately. The Community Reinvestment Act must be repealed. Fannie Mae and Freddie Mac should be privatized.

The only proper role of the government in the financial markets is the protection of the inalienable rights to property and contract. Only then will every person be free to act on his own rational judgment in pursuit of his own wealth, security, and happiness. That’s what America should be all about.

Diana Hsieh
Sedalia, Colorado

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