Or so we’re told over at The Smirking Chimp. I link to this only because it amazes me that such ignoramuses exist. There are layers and layers and layers of regulators all over this economy, and this person’s response: More! More! More! The free market is stupid! Lack of regulation leads to financial meltdowns! (I’m going to go way out on a limb and propose that our friend has never heard of business cycle theory.)
(Oh, and did you know John McCain — as mainstream and interventionist as they come — favors an “unregulated” economy?)
Not even a speck of curiosity as to what might have caused it all — probably just greed, on the part of businessmen who need to be regulated! Not one word about the Fed. And then we get this gem: “Unless you’re a highly paid executive in the financial industry, you’d have to be crazy or ignorant to repeat the mantra of deregulation at this point in our history. We have deregulated to the bone and we now see the consequences. Bear Stearns, Enron, Fannie Mae, Freddy Mac, Indy Mac and the list threatens to grow to 150 other banks. Now is not the time for deregulation.”
Then: “Democrats must insist on further regulation if they are going to agree to bailing out all these companies and institutions.” The possibility of not bailing them out, the possibility that Fannie and “Freddy” [sic] shouldn’t exist, and/or shouldn’t rely on the guarantee of a taxpayer bailout as they make decisions, never occurs to this guy, who’s apparently ready to bail out the fat cats while posing as a defender of all of us. Just when I can’t stand the Right anymore, I’m reminded of how blockheaded and resistant to economic knowledge the Left is.