One of the very, very few defenders of freedom in our government, Ron Paul, demolished the bailout proposal in a few short paragraphs today. You can read his statements here.
In light of what Ron Paul says, I have a question for those of you touting this bailout bill: If the price of "stability" is rewarding rich, irresponsible CEO's, stockholders and boardmembers of reckless companies and punishing the American public with the double insult of a future tax burden and untold billions in lost investment opportunities, how is stability worth it? What is stability? Is it not having your own 401(k) go down? Is that what this is all about? The war of invested Americans on the uninvested? I cannot for the life of me understand how anyone with an ounce of humanitarian conscience can justify this bailout plan.
It is the raw, unconcealed, naked use of power to rob the poor to give to the rich. This is American socialism, folks. Welcome to 1984.