Bankruptcy, not bailout, is the right answer

The financial situation we are in right now was created by the government and the government wants to try and "fix" this problem. A vast majority of Americans have decided to speak up (finally), and finally decided to put it out there that the American people are against the bailout plan. Economist Jeffrey Miron says the bailout plan presented to Congress was the wrong situation presented to Congress. He believes that, “The fact that government bears such a huge responsibility for the current mess means any response should eliminate the conditions that created this situation in the first place, not attempt to fix bad government with more government.” I totally agree with this, sounds to me from what I’ve heard, what the government is doing and planning to do sounds very socialist if you ask me. He believes that the troubled financial institutions should declare bankruptcy and I agree. After all, this is a free open market so we should let these companies run their course they have chosen without government interference. Bankruptcy isn’t such a bad idea after I read what Jeffrey Miron had to say. He says it best when he tells it like this, “Bankruptcy does not mean the company disappears; it is just owned by someone new (as has occurred with several airlines). Bankruptcy punishes those who took excessive risks while preserving those aspects of businesses that remain profitable.” There is a lot more to it and I think you should take a look at the article yourself.
Economist Jeffrey Miron isn’t just speaking out of his you know what. I think he makes valid points and the thing he says makes sense. He is s senior lecturer in economics at Harvard University, so that’s got to mean something.

A really bad Disney movie

Matt Damon had some harsh criticism for Gov. Sarah Palin, the Republican nominee for vice president. Matt believes that the selection of Sarah Palin as the Republican nominee for vice president could end up “like a really bad Disney movie” if the Republicans win the election coming up in November of This year. First off, Damon points out the fact that there is a one in three chance that McCain won’t last his first term. That would result in Sarah Palin as the next president of the United States. “It’s like a really bad Disney movie, “‘The Hockey Mom.’ Oh, I’m just a hockey mom from Alaska, and she’s president, she’s facing down Vladimir Putin and using the folksy stuff she learned at the hockey rink. It’s absurd.” says Matt Damon. Damon believes the public needs to know more about her views on things such as creationism and censorship. I found it hilarious when he says “I need to know if she really thinks that dinosaurs were really here 4,000 years ago. I want to know that. Because she’s going to have the nuclear codes. I want to know that and I want to know if she tried to ban books. We can’t have that.”

Matt Damon isn’t the first person to back Barack Obama. Many people of Hollywood are backing Obama such as rapper Ludacris, singer Usher, Actor Robert Deniro, comedian Chris Rock, actor Samuel L Jackson, actors George Clooney and Ben Affleck, Oprah and the list goes on.