Monday, December 7, 2009

Bernanke reports the federal government will make some money on its bailout investments

http://money.cnn.com/2009/12/07/news/economy/bernanke_speech/

Great news - and should help some people feel better about the fact that the government had to step in to an unprecedented level last fall.  I believe it was definitely the right move and now am optimistic that the government does whatever it takes to pull back out of the private sector.  My worry is that they stay too long and get used to the idea, which is bad for our corporate sector and future growth.

 I post it however to reinforce to some out there that government isn't all bad.  I know there are many that felt we should just let these businesses go under, economy be damned.  However I rarely hear any of these folks acknowledge the impact that would happen if the entire banking sector collapsed and the country hit 25%+ unemployment.

Anyway - glad to hear we get SOMETHING out of the investment of OUR money.  Now I just hope the Obama administration accelerates the de-investment ASAP.

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