When you’re a child, your parents give you an allowance for cleaning your room, washing your clothes, etc. This is money with strings attached.
You work at a job, employers expect you to do things for the money they pay you. This is another example of money with strings attached. I urge our leaders in Washington to remember this simple economic equation: without strings attached, rules, guidelines and performance-based expectations, all the bailout money is likely to be wasted.
Why should these same folks who helped destroy the American economy suddenly “do the right thing”? It’s absurd to think they will. Most of the top economists agree-Paul Krugman, Joseph Stiglitz, Dean Baker, etc.
We must write the rules (or attach the strings) to this money so that it’s spent wisely, in the places it can do the most good. Not in Las Vegas for a week of stress-relieving lap dances at the public’s expense!
Sean Masterson