Friday, November 30, 2007

To Cool a Market Meltdown

To cool a market meltdown. I finally found an article that addresses the problem that I
spoke about in my article "Doomsday Scenario". I found an article at the Christian Science Monitor called "To Cool a Market Meltdown Apply Aid Carefully"

In this article I began to find some answers. He says that because of some of the mistakes of banking and other investment companies those instituitions probably need to be allowed to fail if their mistakes were too extreme. To bail out companies that shouldn't be bailed out because of basic monetary incompetence doesn't make any sense. Even though the operative word in capitalism is greed rather than "from each according to his ability and to each according to his or her need", still that greed has to be practical for all concerned. If it is in the end not practical then that institution needs to be allowed to fail. For example, if a person stands in front of an oncoming truck that person likely will die. If banking or financial institutions metaphorically do the same things then they will die too. It is simply a fact of life and no amount of government interference can change that unless the government itself wants to collapse in unreality eventually just like many third world governments do in these kinds of situations.

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