WALL STREET'S RESCUE
Government steps in, politicians slip up
The government has stepped in and bailed out AIG because, we are told, it is too big to fail. It is involved in too many areas and would cause too many disruptions.
If a company is allowed to become so big we can't allow it to fail it undermines business. If it can't fail, it changes the way it will make business decisions. It has an unfair advantage over its not too big to fail competitors. It can take on higher risks than its competitors, safe in the knowledge that it'll be bailed out if something happens.
This creates an environment that rewards more and more speculation without the usual balance of risks as a downside, leaving the taxpayer to pick up the tab when the house of cards falls.
PAUL KOPNICK, BLOOMINGTON
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When the American people were hit last week with the devastating news of the Wall Street meltdown, Sen. Barack Obama missed an opportunity to reclaim the Obama brand: an iconic hope-oriented speech, uplifting us in the midst of crisis with the inspiring rhetoric that has made him famous. Instead, he used the crisis as another opportunity to attack John McCain. Maybe Obama's strategy will help him win, but it will be the American people who will lose if it turns out "hope" was just a marketing strategy, abandoned when no longer expedient.
KARA WEST, MAPLE GROVE
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