Bail outs?

I continue to find it necessary to take a bit of a sabattical from politics.

It is therefore in a spirit of open — not loaded– questions that I ask this.

What’s the idealogical justification for the massive bail outs going on of all these ailing companies?

I’m not debating the pragmatic effectiveness of it all. 

I’m wondering how somebody explains a belief in the power of the unfettered markets, on the one hand, and on the necessity of such massive government intervention, on the other.  How did Adam Smith’s invisible hands let this happen?

A mostly unrelated question I have around all this stuff is based on something I read in the last few days.  The claim being made was that with out the bail out, the economy will grind to a halt because borrowing and speculation will cease to exist… and so the question here I have:

Is an economy built on borrowing and speculation a well-built economy?  Shouldn’t the foundation of our economy be something stronger than speculation and work we haven’t yet done?


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The stories that speak to our soul begin at a home where things are good. Cinderella is happy with her father. The three little pigs have grown up and are ready to move on. Bilbo Baggins knows his shire. Adam and Eve walk with God in the garden. My story isn’t much different. There was a time and a place where it was so good. There was a community for me. And there was joy. We were filled with a sincere desire to do what God wanted us to do. We possessed explanations and understandings that went a certain distance. We offered security and tradition and laughter. For a lot of years, that was enough. I have this sense that it was also necessary. I have this surety, now, that it certainly wasn’t everything. There were some things that became increasingly problematic as time went by. There was a desire to package things up so very neatly. Sunday morning services were efficient and strategic. Responses to differences of opinion were premeditated. Formula began to feel more important than being real. A real desire for everybody to be one of us, but also a real sense that there is an us, and there is a them. They carried a regret that it has to be this way, but deeper than this regret was a surety that this is how it is. I began to recognize that there was a cost of admission to that group. There were people who sat at the door, collecting it. Those people wished they didn’t have to. But I guess they felt like they did have to. They let some people in, and they left others out. There was a provisional membership. My friends did possess a desire to accommodate people that are different… But it would be best for everyone concerned if they were only a little bit different. I did make many steps forward in this place. Before I went there, there were lies that I believed. Some of the things that I learned there, I still hold on to. But that place is not my home anymore. Those people are not my community anymore. There were times it was hard. I am engaged in a different community now. And I am working hard at finding a place in many different places now, embracing many different kind of families. I don’t always get it right. I am trying and I am learning and I am moving foreward. I have this sense that I am not alone in these experiences. I believe that we are tribe and we are growing. We are pilgrims, looking for a new holy land. Perhaps we won’t settle on the same spot of land. But if you’ve read this far, I am thinking that we are probably headed in the same general direction. I have begun this blog to talk about where my journey is taking me. In every space, we find people who help us along. And maybe we can get to know each other, here. We embrace ideas that provide a structure for the things we believe, and perhaps we can share these too. Maybe we can form a group, a tribe, a community, if we can figure out a way to work through the shadow of these kinds of groups, if we can bigger than the us-and-them ideas that have caused so much trouble in the past. As important as they are, I think the very nature of online interactions will lend itself to something equally powerful. I am stumbling onto these practices that my grandfathers and great grandfathers in the faith engaged in. I am learning about these attitudes and intuitions are so different than the kinds of things we call doctrine today. I don’t know about you, but I am running out of patience, and even interest, in conversations about doctrine. I hope that maybe you’ll share a little something about where your journey is taking you, and maybe our common joys and challenges might help each other along, and we might lift each other up. Thanks for doing this journey with me.

2 thoughts on “Bail outs?”

  1. Hey Jeff,

    i’m not an economist, and i don’t play one on t.v.

    i do have a reasonable grasp on a few of the elements affecting the current economic situation. Trust me, it’s complicated in the regard that there are so many interwoven factors. i should tell you upfront that i don’t believe that “free” markets are malfunctioning.

    Markets are affected by three basic factors: supply, demand, and people. It’s the latter of the three that tends to muck things up by trying to engineer the former. Regardless of their specific motives, people are generally in markets to gain something for themselves. Markets are no place for altruism or greed; they’re sterile and impersonal and should be overseen by adults to keep them that way.

    We’re in this mess because of personal political and financial greed. It would be impossible to discuss causality without discussing politics because of it’s strong role.

    Do you wish to continue?


  2. Jeff,

    Go to and type “miron/bankruptcy” in the search box. That will begin to explain a portion of the problems we’re now facing.

    It won’t answer the specific philosophical questions you’ve posted here, but it will shed some light on the machinery breakdown.


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