The Government is Patching the Barn Door Instead of Catching the Escaped Horses

Washington’s Blog
Friday, Nov 6th, 2009

If all of the horses are already out of the barn, fussing about how to patch the door to fill in a few cracks isn’t really very helpful.

You have to go out and round up the escaped horses. Then – once you catch them – you can think about how to improve the barn.

The same is true with the economy.

The too big to fails are – by their very size and the moral hazard created by the government’s actions – drawing the American economy down into a black hole.

The TBTFs – by their very size – are so powerful that they are making the playing field uneven and warping democracy.

By allowing the TBTFs – even after all of their fraud and recklessness – to profit through taxpayer bailouts, various guarantees, incentives and other perks, the government is encouraging them to loot the economy again in the future.

Letting them get so big and powerful was letting the horse out of the barn. Allowing them to stay gigantic is letting the escaped horses go free while arguing over small cracks in the barn.

Similarly, failing to claw back the secret bailouts through AIG and other channels to American and foreign banks – see this, this, this, this, this and this – is also letting the runaway horses get away.

Indeed, as derivatives and other financial experts will tell you, the government’s proposals do not even effectively fix the cracks, let alone close the barn door, let alone catch the escaped horses.

For a short example of the patching-the-barn-door-approach, read this short report from McClatchy on Barney Frank’s overall game plan.

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9 Responses to “The Government is Patching the Barn Door Instead of Catching the Escaped Horses”

1. guyfox Says:
   November 6th, 2009 at 5:25 am

   this is a kick ass short film about martial law, and police brutality, and the rise of the republic you must see this and pass it on very power short film- amazing how close it all really is! Rise of the Rattlesnake -> http://www.youtube.com/watch?v=Qx6tTH4RQfA

2. YT Says:
   November 6th, 2009 at 11:43 am

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   Backup your favorite episodes, don’t miss any!

3. warren Sanford Says:
   November 6th, 2009 at 1:08 pm

   Wouldnt you patch the barn door before you bought all new horses?…those lame mares didnt get out of the barn-they where asked to leave-we need strong, new horses-and we should fix the door before buying new horses.

   Have I tortured your equine metaphore enough for you?

   

   pitofdoom Reply:
   November 6th, 2009 at 3:24 pm

   But there are NO new horses, so you’re effort was in fain, sorry

   

   wildcat Reply:
   November 6th, 2009 at 7:04 pm

   You’d make sure the barn wasn’t on fire, was waterproof, was clean, warm and had water and food, then you’d make sure the horses were secure in their pens before you closed the barn door.

   

   its all planned Reply:
   November 6th, 2009 at 7:36 pm

   folks, the barn is on fire! and how very tragic it is to see the horses unwilling to leave the barn…..

4. guyfox Says:
   November 6th, 2009 at 5:19 pm

   a powerful movie that will move your heart and make you think, short film about love freedom hope- gunrights martial law, rfid, jfk, you gotta see it ! the first light of dawn http://www.youtube.com/watch?v=LUY7dl7X_vo

5. Tatiana Covington Says:
   November 6th, 2009 at 11:27 pm

   Let them fail and die. Like Downs Syndrome victims, they’re not worth keeping alive. Let Darwin cleanse the earth.

6. Eric Says:
   November 7th, 2009 at 2:17 am

   Who let the Dogs/(horses) out? Whoop!