Most of the right wing politicians and free market supporters were wrong: The invisible hand is not that invisible and the market cannot regulate itself, proof of that is the 700billion USD bail out plan to rescue the banks and financial companies that started to lend money without considering that maybe more than 2 customers wouldn't gonna be able to pay those loans....
Now taxpayers will have to absorb that cost (as CNN explained, with those 700billion EACH American-more than 300 million people- could buy 2000 Mc Donald's pies, although most of them would surely die after the 20th pie, mmm not healthy.. ). As Roger Cohen points out in his NYTimes editorial, that amount of money sounds familiar, yes people, that's the amount of money Bush & Friends have spent on Iraq.
So let's see if Paulson's miracle plan is finally approved, it would be very nice, because Wall Street executives could now be relaxed again, thinking about their next mistake that the people in Main Street will have to solve for them.
1 comment:
Deep and esay to read!
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