Michelle Malkin makes an important, if limited, point when she writes the following about the ponces in Congress. They indeed have some nerve pointing fingers at other parasitical incompetents:
“How nauseating to hear the growing chorus of lawmakers on Capitol Hill inveighing about the AIG bonuses and the rewarding of incompetence. This, after the Senate refused to give up automatic pay increases for themselves and Nancy Pelosi refused to give the measure a hearing. Congress sez: Incompetence bonuses for me, but not for AIG. Spare me.”
Of course, “Congress played major role in AIG mess,” as it has in our credit woes.
But the larger issue here is interventionism. You may be surprised to learn that I am completely indifferent to anything that our Kenyan kleptocrat inflicts on business leaders and their bonuses if they have been bailed out.
Take what you get; you’re Barack’s bitches now.
Economist Ludwig von Mises warned that the road to socializing the means of production is paved with interventionism. Middle of the road interventionism leads directly to socialism.
AIG has made common cause with the State. Now that the State owns a good chunk of the company, it gets to regulate and terrorize its corporate lackeys; take over operations completely, and sink the whole sorry ship with all on board.
And don’t let anyone on the Left try to tell you that this is the culmination of the unfettered free-market. Lies. This is the outcome of fascism, corporate cronyism. Let those who partake in this system suffocate in its deadly embrace.
Capitalism, The Unknown Ideal, would have allowed unviable industries to fail. Under freedom, no one would survive at the expense of another.
Update (March 18): The corrective chaos that’ll come with state takeover is obvious: companies, CEOs especially, will see that it is better to go bankrupt, and look for other, honest employment, than become the state’s bitch. How can anyone suggest that the contracts of those who suck at the state’s teat ought to be sacrosanct? As far as I’m concerned, state employees ought to be denied the vote too. Contract law is a feature of the voluntary free market, not a prerogative of the plundering class.
