Democrats like to create American villains. When it comes to financial scape goats, they fall back on Wall Street Fat Cats or Oil Speculators. Our President is now blaming high gas prices on speculators, but speculating and investing a key components to our free market system. I don’t think our President is as big a fan of the free market as I am, so I’ll tell you where the system breaks down.

Bankruptcy

Wall Street fat cats and speculators are free to take tremendous risk. The upside to these gambles are immense, and because of our pathetic bankruptcy laws, the downside aint so bad. Rich people go bankrupt and remain rich.

Donald Trump is one of those rich guys that use the bankruptcy laws to full advantage. He has filed for bankruptcy at least three times. Trump uses bankruptcy as leverage to renegotiate terms after his gambles fail.

He gambles…he fails…he uses the courts to protect his assets. Rinse and repeat.

This same backstop is there for speculators and big investors. If they lose, they just close up shop and hang open for business sign up next door.

The last time Congress updated the Bankruptcy laws, it was the left that protected the status quo. They claimed that the tougher laws were payback to big banks and it would hurt the little guy with credit card debt. I beg to differ. The current laws hurt the guy who pays his bills. That would be me and millions of other ethical Americans. Tough bankruptcy laws hurt everyone who over spends or gambles beyond their means.

Risk with rewards and no penalty is dangerous. It creates bubbles and hinders the free market from functioning.

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