writes this:
One of the major lessons of the year is that unregulated and underregulated capitalism ends up confronting democratic governments with a subprime choice: Either let a major institution go down and watch as chaos follows (the Lehman option) or funnel gobs of the public's money into such institutions to avoid such Lehman-like chaos.
and this:
But, just as Lincoln predicted, the United States was bound to have one labor system prevail, and the debate over the General Motors and Chrysler bailout was really a debate over which system -- the United Auto Workers' or the foreign transplant factories' -- that would be. Where the parallel between periods breaks down, of course, is in partisan alignment. Today's congressional Republicans are hardly Lincoln's heirs. If anything, they are descendants of Jefferson Davis's Confederates.
Comparing Toyota and Honda in their southern factories to slave owners is so idiotic I'm surprised he had the nerve to write it. I mean, come on, dumbass, do you have any real idea...
But that first part, now, that takes the cake. Let's see, it was Bush, in his first term, who said "We've got to fix Fannie and Freddie before they implode", and it was some of those wonderful people Meyerson seems to like, like Fannie Mae Frank and Countrywide Dodd who had fits and accused Bush & Co. of racism and insisted there was no problem, no more regulation needed. This in a system that pushed companies to give loans to people they shouldn't(not exactly a free-market approach) and pushed for more and more until it imploded. And it's those same people who absolutely insisted we had to do a bailout RIGHT NOW, and now we need more bailouts and bullcrap RIGHT NOW. Instead of said people being thrown out of the House and Senate and prosecuted, and getting their theiving hands out of the mess.
Blaming Bush? Like I told my daughter a couple of years ago when discussing BDS, he's done some things he should legitimately be yelled at for; don't make up bullshit. And, I'll add, don't blame 'the markets' and 'insufficient regulation' when neither a free market nor 'sufficient' regulation was allowed.
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