Rick Siegel Prespectives on Freedom and Liberty

It is a story reminiscent of David and Goliath, the people of Iceland stand where the people of the world succumbed to their governments financial give away to their favorite banks. Polls in the USA showed over 70 percent of the people were adamantly against giving private business bailouts.

Treasury Secretary Henry Paulson this Sunday defended the Federal Reserves decision to bail out the Bear Stearns investment bank increasing the debt American taxpayers will hold for the profits expected by bankers before the crash. Paulson assured “The government is prepared to do what it takes” and will print money at taxpayer expense to assure the profits of these huge banks.