tag:blogger.com,1999:blog-3460778761658839199.post3593450582190399861..comments2023-10-30T06:55:51.149-04:00Comments on Political Rants: The latest speech from uber leftie ObombaZenhttp://www.blogger.com/profile/11843988887330031098noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3460778761658839199.post-78493272923400002992008-02-28T02:18:00.000-05:002008-02-28T02:18:00.000-05:00Truthfully, all of the candidates are missing the ...Truthfully, all of the candidates are missing the point. There are going to be many corporate villains to be pointed out in the next few months. Large amounts of wealth gained on its own isn't a bad thing. It is the basis of our entrepreneurial system. <BR/><BR/>This rhetoric occurs because many of the newly minted billionaires did so through fraud and misrepresentation. Bob Toll (TOL) sold off hundreds of millions in stock while talking up his company while lying about the financial health of his company. Angelo Mozillo (CFC) continued to push subprime loans to the masses knowing full well the paper being funded was garbage.<BR/><BR/>We don't need to "punish the rich", but heads must roll in order to maintain at least the illusion of achieving success if one works smart, works hard, and is ethical in his/her dealings. <BR/><BR/>Problem is that the government isn't letting the free market do its job on the way down as they were laissez-faire on the way up. Those who are left holding the bag should go broke. Those who were smart will pick up what's left of the good assets for pennies on the dollar for not acting greedy.<BR/><BR/>If the government bails out those guilty of moral hazard, it's no different economically than 1930's Germany.Anonymousnoreply@blogger.com