Friday, December 19, 2008

Congressman John Duncan's Statement on Bailout


Even in the best economic times, thousands of small businesses fail and we do not bail them out. I have been concerned all along with the unfairness of what we have been doing, primarily for the financial companies, and for what we attempted to do for the automobile manufacturers.

No company should be considered by our government as being “too big to fail.” And I realize that if everyone had voted the way I have, some very big companies would have gone under.

However, socialism has not worked anyplace in the world. In my opinion, the pain, as great as it would be, would be a lot less and our economy would recover a lot sooner if we would simply let the free market work.