Sunday, September 28, 2008

NY Times On Economy: "People Failed"

Don’t Blame the New Deal:

This year’s serial bailouts are proof of a colossal regulatory failure. But it is not “the system” that failed, as President Bush, Treasury Secretary Henry Paulson and others who are complicit in the calamity would like Americans to believe. People failed.

For decades now, antiregulation disciples of the Reagan Revolution have eliminated vital laws, blocked the enactment of much-needed new regulations, or simply refused to exercise their legal authority.
Because he refuses take any responsibility for any error, Bush must to blame the "system." If he didn't he'd have to confront the reality that this disaster was set in motion by "Saint" Reagan (R), President Bush, Bush cabinet financial wizards, the GOP's tragically misguided, patently dishonest "trickle down"/laissez-faire bullshit economic philosophy & the Republican Party as a whole.