Friday, December 12, 2008

Mistakes That Killed The Economy

This article is a very good read about what mis-steps led up to where we are now going back to Reagan. It does a swell job of showing that it was several mistakes over 20 years or so that brought it all crashing down.

Here are a couple of quotes:

There will come a moment when the most urgent threats posed by the credit crisis have eased and the larger task before us will be to chart a direction for the economic steps ahead. This will be a dangerous moment. Behind the debates over future policy is a debate over history—a debate over the causes of our current situation. The battle for the past will determine the battle for the present. So it’s crucial to get the history straight.

So true. It isn't 'blame gaming' but trying to understand what happened in the past to prevent it from re-occurring.

If you appoint an anti-regulator as your enforcer, you know what kind of enforcement you’ll get.

Why is this so hard to understand? You stick people who don't believe in government in charge of government and you are going to get a really badly run government. Not rocket science.

All in all, it just goes to the anti-regulation stuff I've been bitching about again.

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