Why the Financial Meltdown Reflects the Fundamental Failure of the Bush-McCain Economic Philosophy.
"The financial meltdown on Wall Street is more than a cyclic correction brought on by a mismanaged business cycle. It is emblematic of a problem at the very foundation of the right wing economic philosophy that became conventional wisdom during the Bush years -- and would be continued in a McCain presidency.
The zealots of unfettered "free markets" cast aside the critical lesson that the world learned during the Great Depression: left to their own devices, unregulated financial markets do not necessarily function to benefit the society as a whole -- or, in the end, even many individual market participants."...
While we can perhaps all agree that over-regulating stifles free markets, the "get government out of the way" philosophy of the McPalin ticket encourages the kind of greedy free-for-all that gets a very few people very rich and a whole lot of people very screwed.
Tuesday, September 16, 2008
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