Posted by Congressman John Campbell at 12:00 am on Oct 03, 2008 6 Comments
Below you will find an editorial I penned for Investor’s
Business Daily today.
Plan Will Save Free Market, Not Destroy It
By REP. JOHN CAMPBELL
This free-market, Milton Friedman devotee, conservative
Republican congressman will be voting strongly in favor of the $700
billion bailout for Wall Street. What, you ask? Has the California
sun fried my last brain cell?
No. I will vote for this bill because it will likely not cost
anything, is not a bailout of anybody and will help every American
with a bank account, a job or a retirement plan. It also will save
the free market, not weaken it.
Allow me to explain.
The $700 billion figure so often mentioned will not be spent,
but actually entirely invested with three different mechanisms to
ensure that the taxpayers get all their money back.
First, these "troubled assets" will be purchased at less than
the expected net… Read More