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Author: JustSilly Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: An open letter to the Motley Fool: Let them Fail Date: 9/25/2008 8:38 PM
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So, you sent me an email telling me (as is almost every financial site) that we must bailout the financial system.

Sure, the Paulson plan costs $700 billion dollars and risks hyperinflation. There's no transparency and the government will own even more bad assets then they already do. And of course, we aren't even allowed to think it over for a reasonable amount of time. We must bail out financial/corporate America NOW or recessions, war, plague, pestilence and bad hair days will follow.

I have three words for you:

Let Them Fail.

Corporate america got itself into this mess. Ma and Pa Baker have most of their assests in the bank, FDIC insured. Personally, I'm willing to start over in my 401(K) if it means that the people and systems who caused this mess get the pounding they deserve.

I'm willing to look straight into the abyss that no one will actually describe. The reality is that we are headed towards a recession anyway - we can save our currency and money for a rainy day or we can bailout corporate america. Since corporate America has been more than willing for decades to dump Americans, I fail to see what I owe them. $700bn will go a long way to replacing capital in 401(k) accounts and insuring middle America's assets.

I do want thank you, though. I am now suitably inspired to write my congress people and do my utter best to see that this ultimate bailout of corporate America doesn't happen.
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