Atlantis Alumni

Tuesday, September 16, 2008

Blame Conservatism For The Economic Meltdown

From today's New York Times lead editorial: certainly not too soon to look beyond the current crisis to the flaws
and fallacies of the anti-regulatory ideology that has held Washington in its
grip since the Reagan years and allowed the financial excesses that are now
stressing the system to the breaking point.
Making and enforcing new rules
is necessary, but that will not be enough. The nation needs a new perspective on
the markets, one that acknowledges the self-destructive bent of unfettered
capitalism and its ability, unchecked, to wreak havoc far beyond Wall

Yes, dear old Ronnie, so beloved by the knee-jerk conservative set, started us down the path that has lead to the current near collapse of Wall Street. The excesses of deregulation have come home to roost. Reagan also began the welfare for the rich program by gutting much of the progressivity out of our tax structure. Saint Ronnie Reagan,, indeed!


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