Issue Position: No Bailouts!

Issue Position

Issue Position: No Bailouts!

A real free market is a fundamental aspect of American liberty. Today's corporate bailouts that shift trillions of dollars in costs to taxpayers are the opposite policy. Libertarians opposed the Bear-Stearns bailout, opposed the Fannie and Freddie bailout, oppose the AIG bailout, and oppose the new proposal for taxpayers to put up 700 billion dollars in a "cash for trash" swap, dumping all of the nation's bad mortgages onto our backs. Those who participate in markets need to learn the hard lessons that free markets include real risks, that if you make bad investments you will lose your investments, that counterparty and derivative risks are very real, and that if you fail the taxpayers will not bail you out. It is better to accept the short-term pain that comes with facing financial reality, rather than to permanently corrupt and debase a once free economy.

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