The Decision Strategist

It’s not often that I see a fantastic article that is spot on, especially in syndicated media, but The Fed’s Subprime Solution, an opinion piece by James Grant at the New York Times, is excellent.

capitalism without financial failure is not capitalism at all, but a kind of socialism for the rich.

Big Business Bail Out

I’m not a fan of proposals by some presidential candidates to provide a fund to bail out people with defaulting mortgages. But I am really not a fan of the tendency by our federal government to bail out big business. Lenders and other giant credit companies are part of what got us into the current credit crunch, and they should not be able to walk away supported by the public’s tax dollars.

Part of our quest to understand and improve our own decision making must necessarily involve the examination and criticism of other’s decisions. Perhaps more importantly, it must include responsibility for our decisions. As big credit companies come to depend on a public bail out in times of stress, they increase risk and instability for us all, and cost us a lot of money in the meantime.

-zot

ps - If my writing is dense today, it’s because I’ve been reading Equality by Default, an excellent essay on the perils of modernity. The best book I’ve read in several years.

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This entry was posted on Tuesday, August 28th, 2007 at 8:35 am and is filed under Finances, Real Estate.