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March 27, 2009

Welcome to socialism

Do politicians read history? The causes and attempted cures for the Great Depression and today’s financial crisis are very similar. The causes of both were weak and poor banking practices and home foreclosures. The cures consist of throwing money at the problems.

Neither worked under President Franklin Delano Roosevelt. In 1937 we entered the “depression within the depression.” In 1940 the rate of unemployment was more than 15 percent. World War II saved the day.

We have bankruptcy laws. Use them. Give the economy a chance to cure itself.

Today’s approach will result in inflation and a massive tax increase for the middle class in 2010.

Welcome to socialism.

W. Waite Welker Jr.
Overland Park

I cannot understand why our lawmakers are rewarding incompetence and gambling and do not allow failing businesses to enter bankruptcy, just like any other U.S. company. Isn’t this S&L all over again?

Unfortunately, we have become a bankrupt, socialist society that relies on our government to take responsibility for our health, wealth, secondary education and even the raising of our children (just to name a few). We cannot afford to simply keep increasing taxes to pay for the entitlements of those who refuse to live within their means.

Life is about choices, and unfortunately we, as a society, are teaching our children that there are no negative consequences to those choices. Moreover, we are teaching them that if you want (not need) something badly enough, just put in on credit. No need to work hard and save. That may disqualify you from one of the thousands of entitlement programs offered by our generous representatives.

Paul Dawdy
Liberty

Comments

Mudstump

The average consumer may be "dumb" as you put it but, the average banker knows better. They took advantage of people wanting to make a better life for themselves. They were so greedy they didn't even bother to record deeds and other documents carefully.

The bankers were so hungry for the sub-prime mortgage packages they could sell to investors and bet on like Las Vegas gamblers they failed to do their own due diligence.

Now we find out they are forging documents to foreclose on folks.

I'll bet if you and I acted like the bankers did we would be in jail. Do you know of anyone charged with fraud yet?

NoMoreMrNiceGuy

They have stories on Dateline and other media junk outlets, showing people that are losing their homes, buried in credit, etc.
Bad times fall on people, for some reason many act like there was no delinquencies or unemployment previous to this. 90% of us still plug right along as we did before, paying our bills and being responsible.
Yes hard times fall on people, but it is hard to have sympathy for the knuclehead couple they often show living in a $300 or $400k house, decked out in top of the line furnishing and having 3 or 4 kids to boot.
There is a difference between living reasonable and living well above what is neccessary. We all have that choice to make and if you choose to live at 120% of your income and bury yourself in credit, you are asking for trouble, Obama or no Obama.
We continue to hear about enterprise being "bailed out" which should never happen, file chpater 11. It is unfortunate that some people fall on hard times but the majority of the country is doing just fine.

Stifled Freedom

People read history, but they dont comprehend and listen. You can tell someone that they will certainly fail and demonstrate it to them, but they will do it anyway....and then be amazed that they failed....then try to blame someone else. This is not a political problem. This is a cultural problem.

It's often said that people are dumb. Its sad, but true.

 
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