When Madmen Reign
Bob Herbert has an interesting column in the New York Times today called “When Madmen Reign.”
He begins his article by saying, “I’m not holding my breath, but I would like to see the self-proclaimed conservative, small government, anti-regulation, free-market zealots step up and take responsibility for wrecking the American economy and bringing about the worst financial crisis since the Depression.
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Even now, with the house on fire, the most extreme among them won’t pick up the fire hoses and try to put it out.”
That is a great description of the situation at the moment. Since the time of Ronald Reagan this radical philosophy of deregulation and the Sanctity of the Market has ruled.
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Lots of laws and regulations which were designed to protect the consumer and the economy from abuse and the greed of speculators have been eliminated. These ideas used to be referred to a voodoo economics. And now the chickens are coming home to roost.
Link: http://www.nytimes.com/2008/09/30/opinion/30herbert.html?_r=1&ref=opinion&oref=slogin
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