You know, I've never understood the Republican objection to regulation. Wouldn't that be like trying to play a sport without the game having any rules? Aren't they the "law and order" party? So why wouldn't they want "law and order" with regard to business like everything else??
Since Reagan I've heard that the 'market place' is the best place to fix problems. It is if you like the brutal reality of the boom and bust cycles of unchecked capitalism. Raw capitalism is simply a utopian ideal. It is as raw as the Darwinian forces acting out in nature – eat or be eaten. A civil society can, and must say no to the pure, unchecked greed of Wall Street, so that the weakest of our society isn't steamrolled by the richest.
Friday, September 19, 2008
My quotable friend
My old friend Walter Calahan sent me a great rant this morning about the economic situation. Here's part of what he said: