Tuesday, March 24, 2009

Oh, go on already

(Via the Drudge Report)

The Obama wants the power to nationalize seize firms "whose collapse would damage the broader economy". That leads me to two thoughts.

First, this is probably an outgrowth of the "too big to fail" nonsense that we've seen tossed about since the 1979 Chrysler bailout. Government bailouts of any company, no matter how successful or unsuccessful they may be (and it's usually the later, as we're currently learning again), are a Bad Idea. No business is "too big to fail" in my opinion--and if they are, then they've been allowed to get entirely too big to tolerate in a free society.

Second, why doesn't Team O just go ahead and declare the USA a socialist state, so we can go ahead with the Third American Revolution? These half-measures just aren't cutting it, guys. Let's get the party started.

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