Over the past few days, I’ve been talking everyone’s ear off about how I feel like we’re reliving 9/11. Except this time it’s not a terrorist attack; it’s a financial crisis. But, as was the case seven years ago, America is panicking and lawmakers are willing to do anything just to do something.
I’m afraid that the desire for national security—in this case, national financial security—is once again going to drive our lawmakers to pass another piece of ill-conceived, unconstitutional power-grab legislation that we will all shortly regret. Does the Patriot Act ring a bell, anyone? In our haste to expel terrorism, we “gutted” (as Jesse Ventura so eloquently put it) the Fourth Amendment. Wire tapping. Reading private email. Cell-phone record surveillance. These were not acts becoming of a free country. But the bill still breezed through the House and Senate. And at the end of the day, the extreme measures they authorized did more to terrorize liberty than they did to defend liberty from terror. In a vain attempt to establish security, we actually forfeited it; not to a terrorist or foreign power, but to the Federal Government and Homeland Security (such an ironic name).
Now, less than a decade later, we’re once again facing a seismic dilemma. Will we pass the Patriot Act 2? Will we forfeit economic liberty for so-called financial security? I answer emphatically, NO! As Benjamin Franklin would say: ”He who sacrifices freedom for security deserves neither.”
Apparently, I’m not the only one with déjà vu. My brother Neal found this telling article in the International Herald Tribune.
Bottom line: bailing out giant corporations with tax dollars is immoral. I wrote this post on Karmel Larson’s blog back when the Fannie-Freddie bailout went down:
Although the government takeover of the two mortgage giants no doubt spells opportunity for some investors, I think it’s still worth mentioning that this deal needs to be recognized for what it is at its core: socialism—an unconstitutional bailout of two giant corporations at the expense of you and I, the taxpayers. Now I understand the arguments for attempting to stabilize the housing market and stem the recent tide of economic downturn. But it’s all for short term gain, long-term loss.
I think our politicians have good intentions for our country in taking this drastic measure. However, that doesn’t change the fact that the principle at work here is still redistribution of the wealth. Except, in this case, it’s the whole Robin-Hood-and-his-Merry-Men thing flipped on its head: stealing from the poor to give to the rich.
A few articles that help clarify this:
“Bailout cure worse than disease”
http://www.atimes.com/atimes/Global_Economy/JG29Dj07.html“Senator Bunning Says Paulson Acts Like Socialist, Should Resign”
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alpUsTv3.upI“Government as the Big Lender”
http://www.nytimes.com/2008/07/14/washington/14guarantee.html?_r=1&hp&oref=slogin
Please click here to contact your local representatives and tell them to vote “no” on the bailout.

