There has been a big movement over the passed few years for the “privatization” of governmental services. On the Federal level, many members of Congress have talked for years about the ‘privatization’ of Social Security and Medicare.
On the state level, there has been much talk about the privatization of tunnels and toll roads, school systems, and even state prison systems.
And on the local level, there has been much talk about privatizing municipal services such as water and sewer service, and local jails.
Well, I think it’s about time someone did something about “privatization”. It’s a damn good idea.
First and foremost, the sector of the economy that should be “privatized”, with absolutely no governmental involvement from the President and Congress is the “home mortgage and investment banking industry”. Where does President and Congress come off even thinking that they can do a better job than market driven capitalism?
Adam Smith was right: Let the invisible hand of the market place do the job it’s supposed to do. That’s right: What this country needs and is going to get is a good old fashioned market place hand job. And that should keep everyone satisfied with a happy ending.
Interesting thought: There are all those who predicted that Social Security and Medicare were on the verge of collapse because it was being badly managed by the government. These are the same sure footed folks at WaMu, Lehman Brothers, Goldman Sachs, and AIG et al who now have their hands out for a bailout from the folks who ‘badly managed’ Social Security.