Wednesday, January 23, 2008

The blame game starts...

Capitalists are capitalism's most dangerous enemy (Newsweek), and

Our leaders have squandered our wealth (Lou Dobbs)

From Dobbs:
We all have to acknowledge that our problems were in part brought on by the failure of our government to regulate the institutions and markets that are now in crisis.
Oh, fuck off, Lou. There's been no shortage of government regulating the institutions and markets--no shortage at all. Meddling regulators colluding with politically favored fascisto-corporatists (as opposed to capitalists, by which I mean laissez-faire) is not at all the same thing as "a failure to regulate". And you know it, Lou. You've just got different intervention recipes is all.

Oh, "our leaders" absolutely have squandered our wealth (that much is true)--but they certainly didn't do it by leaving things alone.

Instead, pandering politicians and pundits of the left and right, interventionist economists, and business interests favored by the resulting legislations caused this mess. Now those same types are just looking to shift the blame. As usual.


Noah "Nog" M. said...

They definitely never seem to realize that they always mess up with more regulations.

It'll be a great day when some rare economic crisis happens and everyone's saying "maybe the SEC needs a little downsizin'".

Mike said...

Testify brother!