More than anyone else, Phil Gramm (http://www.politico.com/news/stories/0308/9246.html) has his fingerprints all over the current mess. Yes, Clinton bears some small blame for not vetoing the Gramm-Leach-Bliley Act, but Gramm wrote it.
Conservatives have been preaching "We don' need no freakin' oversight" for decades now. Problem is, that just doesn't work -- any more than the opposite extreme does. Sharing everything all the time (communism) runs up against greed. Free markets with no regulation and oversight runs up against greed. Neither works in the end.
Prudent government with sensible rules and enforcement -- which Grover Norquist et al have done their best to shackle and/or dismantle -- is what we need.
Milton Friedman-esque capitalism is dead. Bankrupt. Kaput. We're just waiting for the coroner to show up.
no subject
Date: 22 Sep 2008 11:14 pm (UTC)Conservatives have been preaching "We don' need no freakin' oversight" for decades now. Problem is, that just doesn't work -- any more than the opposite extreme does. Sharing everything all the time (communism) runs up against greed. Free markets with no regulation and oversight runs up against greed. Neither works in the end.
Prudent government with sensible rules and enforcement -- which Grover Norquist et al have done their best to shackle and/or dismantle -- is what we need.
Milton Friedman-esque capitalism is dead. Bankrupt. Kaput. We're just waiting for the coroner to show up.