Published September 24th, 2008

I don’t often write about politics, or anything related to it, on my journal.

However, the SEVEN HUNDRED BILLION DOLLAR buyout deal that Henry Paulson, the Secretary of the United States Treasury, is trying to get done, is insane.

This isn’t Capitalism.

If I didn’t believe in Capitalism, I wouldn’t be working at a startup.

If Joost fails, I don’t expect anyone to help me.  I expect it to hurt. But it is my risk to take, why do giant financial companies, who have done apparently stupid things, get treated differently?

If Joost is successful, I expect rewards, and this is the basis of any capitalistic system,  but these buyouts are creating a system in which stupid companies can do badly — and their employees still get rewarded.

I didn’t live during the Great Depression.  I don’t know how bad it can get. I have lived an ‘easy’ life in modern America.

But I would rather see another depression than this massive buyout.

Whatever is going on, it is not capitalism, and I am sad to see America going in this direction.

Written by Paul Querna, CTO @ ScaleFT. @pquerna