Rant – US financial crisis
Here’s the startup blog view on the $700b bailout plan.
In a free market private profits should also result in provite losses – not public sharing.
If the crisis didn’t happen the US taxpayers would not have shared in the upside – so why should they bail them out? The fact is – the hard economic lessons need to be learned. The USA economy needs the pain of a recession to re-calibrate the market mechanics and the ‘philosophy’ of the market participants. Unless reality hits – more events of this nature will occur.