Banks, Bucks, and Bungling

Here we are with 115 banks closed down by FDIC. Kind of shakes your faith in the intelligence and integrity of people we had come to regard as caretakers of our deposits. CIT which benefited from a substantial infusion of taxpayer cash by their friends in government are now poised to file bankruptcy which promises to cost the said taxpayers over two BILLION dollars. The same friends in government who are currently pointing to the "success" of the stimulus in creating and/or saving jobs in the face of figures that dispute their claims and a jobless rate that continues to climb and pure number of unemployed that continues to rise. We can be sure that the bad news is going to continue so long as the concept of spending our way out of the economic mess with borrowed dollars continues. Only job growth will solve our problems, only a reduction in taxes on the job providers will permit job growth. Moving in the opposite direction the administration and congress are pushing hard to increase the tax burden and the debt with an ill-conceived health care overhaul, to "transform" a system which is the envy of the world. To be sure some reform is needed, but incremental and targeted, not radical and authoritarian. Competition across state lines by the approximately 1300 insurance companies would drop rates significantly. Tort reform would reduce the costs of defensive medicine. A THOROUGH attack on fraud in existing government programs by vendors, (FREE SCOOTERS), providers, (hospitals, etc.) Texas runs a tight ship and provides a model that works. Massachusetts and Tennessee provide models that don't, as do England, Canada, and other socialized schemes.
Free markets made us the greatest society in the history of man. Kind of silly to abandon a winning strategy to satisfy the power hunger and egos of a bunch of incompetents who have never run so much as a news stand.

As usual
Thanks for visiting