What we need in this situation is authority. Not heavy-handed government regulation, but the steady and powerful hand of some public institutions that can guard against the corrupting influences of sloppy money and then prevent destructive contagions when the credit dries up.In other words, we don't want government regulation—and especially not "heavy-handed government regulation." What we need instead is "the steady and powerful hand of some public institutions." Would you like to clarify the distinction you're making David? You're beginning to sound like Sarah Palin.
Tuesday, September 30, 2008
Revolt of the Nihilists
David Brooks has been writing some fairly reasonable columns. But he's a Republican, and he can't seem to bring himself to acknowledging the value of government regulation. Here's the best he seems able to do.