Subscribe in a reader“WASHINGTON — Congress and the Obama administration are about to take up one of the most fundamental issues stemming from the near collapse of the financial system last year — how to deal with institutions that are so big that the government has no choice but to rescue them when they get in trouble. The measure would make it easier for the government to seize control of troubled financial institutions, throw out management, wipe out the shareholders and change the terms of existing loans held by the institution.” The New York Times
Why does the government have to take control and “throw out management” of a troubled company? Wouldn’t the best plan be for the government to set measures in place to make low interest loans or no interest loans available to help a failing company? There is no reason the government has to be in control of a failing company. Some would even say that this gives the government opportunity to set the free enterprise system aside and make private enterprise socialist. It would seem the present administration is working hard to make America not based on the free enterprise of private businesses; but a place where capitalism is bad and everybody shares the wealth.
Where in the Constitution does it say that government will meddle in private enterprise? I don’t recall that the Constitution makes allowance to bail out a business that is to big to fail. Were the Founding Fathers even concerned with private business when they were penning the Constitution? They meant that government and business would be separate and each free of the other.
