The American federal government has today become the guarantor of the entire global banking system.
Bush deserves credit, so to speak, for this. A second term President coming to the end, and whose own party has nominated his archenemy to succeed him, he has not done this out of any motive except to save the homes of enormous numbers of people. Good for him.
But the idea of a “free” market died today. Right there in the United States of America, at the hands of a Republican President.
Goodbye.
And good riddance.
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It was the conservative thing to do.
ReplyDeleteIt certainly was.
ReplyDeleteCapitalism is not conservative.
Evidently.
It could be said that the root of the problem was the left orientated laws of the nineties preventing banks from only lending to rich people.
ReplyDeleteDesperate.
ReplyDelete