15 October 2008

OMFG . . .

Dagny Taggart Where Are You?Image by NickStarr via FlickrOMFG, which stands for "Oh My Freaking Goodness" in my local parlance - as opposed to it's more popular sibling.

And why this reaction . . ?

"Community banking executives around the country responded with anger yesterday to the Bush administration's strategy of investing $250 billion in financial firms, saying they don't need the money, resent the intrusion and feel it's unfair to rescue companies from their own mistakes.

But regulators said some banks will be pressed to take the taxpayer dollars anyway." (reference)

Really? We are going to force banks to accept the money? I really like this quote from the article: Peter Fitzgerald, chairman of Chain Bridge Bank in McLean, said he was "much chagrined that we will be punished for behaving prudently by now having to face reckless competitors who all of a sudden are subsidized by the federal government."

This really does sound like we are punishing people for being successful. I really feel a John Galt post coming on.

I really recommend that those who haven't read "Atlas Shrugged" take the time. And don't feel bad about skipping John Galt's monumental speech later in the book. Everyone did.

My Concern is why we are forcing government help on people who don't want it. This moves us from a socialist position - where the government offers to "help" whether their help is the best solution or not, to communism - where by god (note the small "g") you WILL take our help, whether you want it or not.

I am disgusted that we have allowed our government to become an entity that robs us of our freedom to fail and learn our lessons from those failures.

And I continue to search for a way to positively impact my society as an individual.

Any ideas would be gladly considered.

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