Tuesday, September 30, 2008

Reagan's acolytes

Peter Morici, professor of business at the University of Maryland, said: "Things are going to get so bad something will have to be done in the next few weeks. Banks will sink, credit markets will seize, the economy will go into something much worse than a recession."

The Guardian
The above article suggests that the Republicans rejected the bailout because it riled their beliefs in Reaganesque liberalism.

How completely ridiculous. To stand aboard the sinking ship whining about a doctrine that is largely responsible for the crisis itself is woefully out of touch.

Ideology doesn't sit well with FE. Tends to blind rather than illuminate.

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