Rally to save free market capitalism

Thank you to the Magnificent Seven who are trying to save the free market system from the unintended consequences of misguided bail out mania.

In a letter sent yesterday to President Bush, seven Republican senators urged the President not to use the Troubled Asset Relief Program (TARP) funds to bail out the struggling automotive industry. As the letter urges:

“Last week, the Senate rejected a legislative bailout after the United Auto Workers (UAW) union refused to agree to changes necessary to help the Big Three automakers become more competitive. According to news accounts, your Administration is considering providing TARP funds to the automakers without requiring the UAW and the automakers to make sufficient reforms. Absent such restructuring, we do not believe any amount of money will succeed in saving these companies”.

Republicans and Free Market Democrats need to jump in now and walk the walk of free market capitalism.

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