Friday, December 19, 2008

Quote of the Day

I found a list of the The Top Dozen Insights of Conservatives for 2008. Below is my favorite because it clearly illustrates the folly of the (economic) Conservative movement. For a generation they told us to rely on the "miracle" of capitalism and the all knowing good of "the invisible hand". For years we were scolded that capitalism must be allowed to operate freely and without restrictions. For years, evidence to the contrary has been very visible. Sadly, most Americans ignored the truth and were convinced to not believe their lying eyes. Alan Greenspan's' comment after the economic collapse shows that even smart people fell into this stupid, stupid trap.
"I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms".

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