CEI’s John Berlau in USA Today had the opposing view on the Bush Administration’s plan to bail out some subprime borrowers. John’s article, which pointed out that the plan will harm future borrowers, was also picked up by CSPAN this morning. Here’s what John sees resulting from the plan:
Whatever relief the plan hatched by Treasury Secretary Henry Paulson to freeze the introductory interest rates of adjustable-rate mortgages (ARMs) gives to some borrowers today, it is almost certain to hurt many more borrowers in the future. Instead of going after the real instances of fraud, Paulson set a sweeping standard for a wide swath of borrowers and lenders to back out of consensual agreements. If this precedent of the government arbitrarily pushing through changes to contract terms is allowed to stand, it will make many legitimate businesses think twice about investing in the U.S. credit markets and increase costs for loans.
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Yes, I can see your point, and I totally agree with it. The state should be dismantled, full stop. We should leave it to the market, as the market has already shown, countless times again, that the corporate responsibility is there, alive and kicking. We don’t need no Kyoto agreement, nor any other similar, patronizing and economy stifling nonsense. What we need is more consumption. Consumption is the model for a better tomorrow. Problems solved, it’s that easy.
It is them wooly-hat-left-wing-communist-loving-spineless–losers, who would like to see a strong state, and guess what: they also want this so-called social security thing upheld and extended even further. Let me tell you: I am not going to pay, not a single penny. This is my solemn declaration. There is no “we”, there is only “I”. And I want: cheap labor, if needed child labor, I don’t see what’s wrong with that. Children are quite productive, and, you get much less hustle with just about everything. They don’t get pregnant, don’t take holidays, don’t read or write, no sick pay: see where I’m heading?
What worries me though, is all this sickening propaganda that we’re getting. Take that imaginary Bhopal disaster. It’s been 20 years now, and they’re still not getting off it. It never happened. All invented. Yet we get all this gobbledygook about 20 000 people dead as a result of some fantasy spill. I reckon: the villagers massacred their neighbors, in the dark hours of the night, than blamed the blameless Dow corporation. They probably wanted to snatch their land or something. You never know with these tribals. I have seen some photos recently. Can you believe that they’re pushing it to the point of harming, disfiguring and poisoning their own children, in order to get one perfectly respectable corporation to pay out for something it never did. That’s how greedy and morally corrupt these people can be.
So I say: free thinkers unite. I don’t mean: unite as some kind of social solidarity. The very idea is abhorrent to me. What I mean is: each one for himself, but hey, we’ve got common goals. Scrap the minimum pay: in Bangladesh and elsewhere, those “minimum pay workers†are driving Mercedes Benz for Christ’s sake! What we want is no corporate tax: it damages our economies thus directly damaging the society as a whole. We should look back to the old philanthropy days. Just check the UK banks out: they are all collecting for charities. Put all of them banks together, and, you get billions of pounds amassed. All in the name of charity. It may be true that none of those charities ever saw a penny, but that is all down to minor administrative delays. Some time soon, I am sure that each one of them big bankers will send down a pound or two. In the meantime, the business is booming, and surely: that is what every society needs. Also, we want the 16 hour days back. How can there ever be proper progress with those absurd European 35h weeks? Once upon a time, the world was far more harmonious and just. Today we are having all these kids in hoods, hooligans really, sucking on the public funds, being useless, and more: being plain dangerous. I say: send them up the chimneys. That should teach them. Because, public funds (those who earn less than £15 000 per year, should continue paying taxes), should only be used to subsidize the business, and/or bail the mismanaged corporations out of trouble. (We shouldn’t ask how they got into trouble in the first place. That would be indiscreet.)
Finally, don’t get me started on this “free medical care†that we’ve got to suffer here in Europe. You Americans are blessed (but than you are one blessed nation), 50 million of you without any medical cover!! Most of the 250 million of you with the cover, not getting it covered when a disease happens!! That’s what I call a business.
Dear free thinkers, courageous friends: our struggle is hard but our cause is honorable: we shall prevail!!!
Fight the carbon cuts!
Rights to ever increase our bonuses, even when the business is going bust, and the workers are laid off without a pension and pay!!
Cut the Amazonian forests down: we need them for our fuel crops!!
Other people’s wars are good for our economies: support them!!
Politicians only accountable to us: silent majority cannot be trusted!!
No corporate tax!! Ever again such a blatant discrimination!!
Kill the social state: benefits to rich not to poor!!
Free the market: enslave the people!!!
Hip-hip-hooray!!
Let them eat cakes!!!
DEAR CORPORATE WORLD: IT IS YOUR OWN GREED AND SHORT WIRED STUPIDITY THAT WILL GET YOU DOWN. PRETTY SOON. THE HURRICANES, FOOD SHORTAGES, FLOODS AND DROUGHTS WON’T WAIT FOR YOUR APPROVAL.
WE WILL BE THERE, BUT I DOUBT WE’LL EMBRACE YOU.
BY THE WAY, THERE’S BILLIONS OF US…
HIP-HIP-HOORAY!!!
PROCESS-MODIFIED
LONDON
UK
Dear Rin Tintin–
You might enjoy perusing CEI’s website to find out what positions the organization takes on a range of issues. http://www.cei.org
CEI espouses personal liberty and responsibility and the ability of people to make their own decisions. As noted on its site CEI is “dedicated to advancing the principles of free enterprise and limited government. We believe that individuals are best helped not by government intervention, but by making their own choices in a free marketplace.”
The organization also opposes government subsidies of every type and stripe. For example, CEI opposes farm subsidies, which primarily go to wealthier, larger farms and harm consumers, taxpayers, and the poor, particularly in developing countries.
I hope that your next communique references CEI’s issues and positions.