03 October 2008

What we’ve got here is failure to regulate

We’ve been told that one of the causes of the financial debacle, is the Bush administration’s deregulation and refusal to enforce certain laws against banks and other associated institutions (which, I think, would be a crime, so I’m sure we’ll be seeing criminal trials in near future).

Last night, Senator Biden told us that Barak Obama said this mortgage industry mess was coming. I wonder if he got treatment similar to that given to Armando Falcon, Director of the Office of Federal Housing Enterprise Oversight, in 2004:



H/T: Wizbang

It is interesting to note who was calling for more regulation and who was denying the existence of a problem.

On the subject of last night’s debate, the fact is in a real sense Governor Palin was out of her league and Senator Biden, with decades of practice under his belt, was right on his game. But if by “her league” one means “Washington insider” then her being out of league could be a plus. I certainly think so. Supposedly we’ve all had enough of that league. But then her principal has been a member of that league for decades as well. I just heard Rush Limbaugh say that Governor Palin kicked Senator Biden’s butt last night, unless you’re impressed by what he calls Washingtonspeak.

Besides, these debates are dog-and-pony shows. The debates are never are philosophical first principles, as they should be. They are miniature campaign speeches in which both sides make assertions about either the recent or distant past which no viewer can instantly recall or what this or that policy will or will not do (as if anyone knows what will or will not happen). The last intelligent debate I saw between politicians of differing camps was way back in the 1990s concerning then-First Lady Clinton’s healthcare plan.

0 comments:

About Me

James Frank Solís
Former soldier (USA). Graduate-level educated. Married 26 years. Texas ex-patriate. Ruling elder in the Presbyterian Church in America.
View my complete profile

Blog Archive

Capitalism