So, something worth noting. I was privileged enough to attend a meeting this past Monday with all of the county Republicans whom are seeking election this fall. There were many of them there, along with the State Rep. Bill Caul. It was a great opportunity for me to introduce myself to all of them, tell a little bit about myself, and get to sit on the meeting. I also got to have a pretty good discussion with a small business owner about how raising the minimum wage puts the middle class in a crunch.
Overall, it was a really good experience. I get to attend these meetings every month, and we're even supposed to be working on a fundraising event in the area. I trust that all of you locals will attend. Obviously, I don't plan on seeing any of you from Wisconsin or Pennsylvania there.
I figured while I have you all here, I'd like to get my voice out there about the current "economic crisis", as it's been presented in the media. There's no doubt that what's happening in the market isn't a good thing. With the buyout of Fannie May and Freddie Mac, we saw how the government stepped in and saved these mortgage finance companies. Although it's imperative that we keep these companies in business, this is going to cost the American tax payer a lot of money. The $85 billion to bail out AIG in the past 2 days is another scary thing altogether. When these top rate companies start to fall, it creates uncertainty in the market. Uncertainty leads to massive selling. This is why we've seen the Dow drop by over 5% in the past two days. These are huge gouges in the market.
So here is my question to you:
Should the American tax payers really be put on the hook to bail out these mismanaged private corporations?
I want to hear your answers to this. I already have mine, I'll post it after I hear from you all. Even if you're not really into this sort of thing, I want to hear from you. Give me an honest opinion, please.