Thursday, October 9, 2008

A Regime Change Starting In Wall Street???

The following quote is from today's NYT headline story:"US May Take Ownership Stake In Banks":

Fed officials increasingly talk about the challenge they face with a phrase that President Bush used in another context: “regime change.”

This regime change refers to a change in the economic environment so radical that, at least for a while, economic policy makers will need to suspend what are usually sacred principles: minimal interference in free markets, gradualism and predictability.

So, really, socialism comes to the US, courtesy of wealthy bankers and traders... what next? restaurants? gas stations?

and, is that really such a bad thing?


1 comment:

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