Fed Financial
Do You Agree With Congressman Barney Franks For More Government Supervision of The Financial Corporations?
The Federal Reserve jumped to rescue Bear Stearns with liquidity money? Does the government in turn needs to establish more coordinated supervision over the financial institutions to prevent abuse like the case of Bear Stearns and scores of others just recently specially in the mortgage industry.?
Public Comments
- Absolutely not. The only way that a free market economy can remain such, is by letting the market and the buyer's dollar decide what works and what does not. Anybody who thinks that the government can run it any better need only look at some classic examples. Has the government improved the DMV? Has the government simplified taxes and made them more equal or easier or better in any way? Has the government ever solved a financial mess? Have you ever looked at the history of government abuses involved with the Fannie May and Fannie Mac programs? Those certainly have not turned out for the better. How about housing and development? Let the Judiciary branch judge, let the Legislative branch legislate and let the president preside ... other than that, the government should be strictly hands off. So says that (insignificant or irrelevant?) slip of paper known as the Constitution at least. Let the free market decide if we are going to remain a free market economy.
- It's obvious that with the economic situation as it is today, a better system of checks and balances needs to be in place. I think those checks need to start in our own government -- no more pork and a lot more single item budget wishes sent for the budget. But free market is imperative.
