Crony Capitalism, Crony Government
While the news from Wall Street ain’t so hot, I’ll tell you what I wish I had stock in.
I’m bullish on The Comedy Channel.
The last week has been a windfall for Jon Stewart, Stephen Colbert and their writers on the Daily Show and the Colbert Report.
Just hilarious!
But what’s not so funny is watching John McCain fine tune his populist message of outrage at Wall Street. His sudden determination to ride in on a white horse and challenge corporate excesses defies belief. His record of opposition to regulation and even his recent campaign rhetoric suggest that he has no interest in reining in greedy and irresponsible business practices.
Without rules to govern them, the capital markets are likely to go even crazier. The “case by case” strategy of the Treasury Department and the Federal Reserve is like a massive game of Russian Roulette.
The two things that seem to be protecting Wall Street from some of the horrible consequences of 1929 are the availablility of Prozac (and other SSRIs) and the inability of traders to open the windows in their high rise offices!
But that’s not all. Sarah Palin’s record of putting friends in high places and funding pet projects in Alaska is so egregious that it’s hard to believe she will continue providing a boost to McCain much longer.
Take a look at this report by Timothy Egan on The New York Times website.
Haven’t we had enough of Halliburton, Michael Brown and this kind of cronyism in government?
