The other day, after the market tanked, the newspapers were reporting that US congress passed the $700B bailout bill due in large part to the fact that the market tanked after they didn't pass it the first time: http://news.bbc.co.uk/2/hi/americas/7652112.stm.
Now today, after the bill passed on Friday, the financial markets are in turmoil despite the bill, and as some theorize, because of the bill being passed: http://news.bbc.co.uk/2/hi/business/7654025.stm
So a $700B taxpayer funded bailout involving communistic state ownership of private assets, and added regulation measures were put in place in a hurried fashion in part due to a market panic. Yet the market panicked anwyay. And yet we are now stuck with the tax burden, increased levels of communism in America, and more regulation.
If any case is a good example for why using legislation and regulation to try and manage a complex market system doesn't work...this is it.
Can we get our money and freedom back now?
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