The New York Times is reporting this morning that Secretary of The Treasury Hank Paulson is considering taking equity stakes in America's banks. Isn't it ironic that rigidly free market ideologues will leave Washington in January having been forced to move the U.S. into socialism.
What more do we need to know about the total bankruptcy of theoretical lassais fare Republican free market ideology?
Given the lessons that should have been learned from the S&L collapse of the 1980's. In that light the Bush administration policy of "self-regulation" can be characterized as nothing less than malfeasance (or worse).
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