'Visible' hands digging themselves in deeper

Ever see one of those old cartoons, where there is a character trying to hold back water from coming through a wall? The character plugs up one hole and then sits and relaxes, "Whew". A few seconds later, water pops through another hole. Then another. Now there are two holes with gushing water. The character scrambles to plug both of the holes. Then three more pop out. The character uses his toe for one, and tongue for another. Then four. You get the point.What is happening today is a clear illustration of what happens when politicians try to direct the economy via bailouts, taxes and regulations. The secondary effects are far worse than the effects would be have been had the economy been allowed to correct itself.Obama's bailout of Wall St. banks didn't yield the results that he wanted. Bankers didn't act, ‘less greedy' (as if politicians are not ‘greedy'), they acted rationally. Now he needs to chastise them with name calling (‘Fat Cat...(Read Full Post)

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