Friday, September 19, 2008

Killer Krugman

Sorry I’m running so far behind. Like everyone else, I’m just trying to keep up with the madness in the financial markets. It’s okay, Krugman is up to speed. Take him at his word in the lead-off sentence. Have a seat and read.

You might want to be seated before reading this.

Here’s what McCain has to say about the wonders of market-based health reform:

“Opening up the health insurance market to more vigorous nationwide competition, as we have done over the last decade in banking, would provide more choices of innovative products less burdened by the worst excesses of state-based regulation. “

So McCain, who now poses as the scourge of Wall Street, was praising financial deregulation like 10 seconds ago...

I’ve downloaded the .pdf file on Mr. Krugman’s blog to double check and sure’s a direct quote and in context. Seriously, click on the link above and read everything Krugman has to say on the subject.

And one quick point. One of my readers was kind enough to write today and say that he noticed the connection of deregulation in the banking system and deregulation in the aviation industry that I’ve been trying to highlight. The sad story at the FAA is just a microcosm of what has been happening throughout our government. The lack of regulation, the lack of enforcement, the lack of oversight. The only difference that I can see is that Wall Street doesn’t have any unions it can try to blame for its failure. Not to worry though, I’m sure they’ll find somebody to blame.

In case the point has escaped you -- or you’re just new to reading Get the Flick -- you can check it out for yourself. Here. Or here. Or even here.

Don Brown
September 19, 2008

No comments: