Words Cause Radio  

Dean and I mostly discuss business topics on the Jared and Dean Words Cause Radio Show, but we can't help but chime in about political issues from time-to-time. Seeing as how the current bank crisis does have a significant impact on business, I had to chime in on the political aspect of things.

Let's take a quick stroll back in time. Just over a month ago, George W. Bush was saying that the economy was strong. He was even talking about economic growth! Somehow, the largest sub-prime lender in the country failed in just one month. I'm not sure how it could have happened, but Bush couldn't have been wrong about the economy, could he?

Fast forward to just last week. Bush tells us we are in the midst of a financial crisis that needs government intervention. He was completely wrong about the economy a little over a month ago. What should we listen to him now? We don't need more government spending. ALL government spending is tax payer money. It's not like the government is out selling widgets. They get their money from taxes.

A government bailout is not what is needed. What the market needs is a good ol' dose of free market buyouts. For example, not too long ago JP Morgan Chase offered $30 billion for WAMU. They got turned down. Just last week, JP purchased WAMU for a paltry $1.5 billion. Let the banks that didn't play funny money buyout all the banks that played the slot machine. Give them the reward. There are plenty of sound banks in America that can easily gobble up the idiots, especially if the federal government rewards them for saving the banking industry.

-Jared