Cavuto: Sometimes It’s Best for Politicians To Do Nothing

‘Each year. Each time. Each fix only leading to a bigger fix’

Cavuto: Sometimes It's Best for Politicians To Do Nothing (RealClearPolitics)

All this week some of you might have noticed I've been going back in time. On this show and my Fox Business Network show remembering the fall of 2008. The beginning of the financial meltdown. And a crisis that had Washington throwing anything and everything at the wall to see what would stick. What fix would get us out of this fix. And they sure came up with a lot of fixes a lot of rescues, and a lot of bailouts. Stimulus that begot more stimulus. Mortgage rework programs that themselves got reworked. New laws. New regulations all historic to make sure history didn't repeat itself. The same kind of sweeping overhauls we took after investors got swept away in the 1929 stock market crash to make sure we would never have another crash. Until we did in October 1987. And Washington made darn sure again, they'd button this up once and for all to avoid epic panic selling for good. Until it epically happened again in 1989. And again in 1997. And again in 1999. And in 2001, right after the terror attacks. Measure upon measure. Law upon law. Layer upon layer. And yet none of it stopped the selling upon selling in 2008. Each year. Each time. Each fix only leading to a bigger fix. Each costlier than the one before. A myriad of rules and regulations more confusing than ever before. And yet selloffs still happen. Bubbles still explode. Excesses still get excessive. All that help. Still helpless. Still clueless. Still promising we will never let banks get too big, that they cannot fail. Even though banks are even bigger and I'm telling you some will fail. Such is life.

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