What a topsy-turvy few weeks in the news it’s been! Let me mention my highlights:
Federal Government declares it will let Lehman fail to protect the principles of the free market. Rep. Barney Frank declares Sept. 15 Free Market Day. Sept. 16 Federal Government effectively nationalizes AIG. This under a Republican president!
John (Keating Five) McCain, the Republican candidate, lambastes the “greed” of Wall Street and calls for more government regulation. Experience, Oscar Wilde said, is the name so many of us give to our mistakes. Has John learned from his? He did recently say that he knew little about economics. Time to hit those textbooks, John!
Republicans, whiter and richer than ever, have a convention at which they rail against the elite.
Does experience matter? OF COURSE – Palin has none…ooops, it doesn’t REALLY matter!
David Brooks, at sixes and sevens over the nomination of an airhead evangelical for veep practically endorses Obama-Biden. What other conclusion can you draw from his recent column? He just can’t face the facts of it. (Shocked, shocked!!! that Republicans would nominate such a person simply because she assures their rabid base of religious nuts.)
News reports say that the Fed bailout of AIG may actually be quite profitable for the taxpayer, as was the loan bailout of Mexico in the 90s. They charge high interest rates, and they get to call the shots, having dumped the shareholders. Why not do this more often a reporter asks? “That would be socialism…”