Against the bailout

As free market devotees, Sens. Susan Collins and Olympia Snow endorse fiscal responsibility and minimal governmental intervention in our greatest of all economic systems. Consistent with their espoused belief of unregulated capitalism is the reality of risk and the Darwinian notion of free market natural selection.

We are therefore perplexed by their eagerness to write a blank check to the tune of a trillion dollars, at taxpayer expense, to bail out the greedy and irresponsible banking and mortgage industry. Mr. Bush’s argument about saving us all from certain disaster simply rings false.

We strongly oppose the bailout. Like the savings and loan debacle, the current financial crisis was predictable and preventable. We support punitive actions and tight regulation of the financial industry.

James L. McDonald

Reesa M. Greenberg

Bangor