John Stossel makes the point that more economies offer more chioices, freedom, than ever.
Does that freedom come with responsibility ? I have asked you to write about regulation and stimulus. If people and lenders make bad choices, at what point does the governmet have a responsibility to bail them out? And as Say’s Law asks, who will pay for it? Should the government rescue
dot com investors
mortgage borrowers with little or no equity
mortgage lenders who sought out the least credit worthy borrowers
Ford and GM and their bosses both union and corporate and their employees in Michigan
On the other had, should those lenders like the CEO at Merrill walk off with their pockets full, leaving Merrill stockholders with losses while the firm goes begging for capital, ditto everyone in this mess including all the banks and brokers.
As usual Walter Williams has a few word on this topic.
I look forward to your take on this situation.
Professor Elam 
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