2008-09-30 — reuters.com
As Wall Street collapses and politicians in Washington struggle to agree on a rescue package, credit markets across America are grinding to a halt, leaving many business owners and would-be borrowers alike without money to get by.
Thomas may be losing car sales, but he's glad the bailout failed: "They don't need to bail out CEOs of these high-powered banks. Why should they? They're already millionaires."
How quaint -- "millionaires." Main Street is still far too generous to Wall.
But seriously, there seems to be some recognition here that times can't just go back to like they were. The goal shouldn't be to "jumpstart" the same financial economy we had -- we need a new one. We suggest looking at sound money and letting the market set interest rates.
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