How intervention ends
Posted by aogThursday, 14 January 2010 at 17:14 TrackBack Ping URL

Here is an issue for the 2010 and 2012 elections — the SEC has ruled that the records of the AIG bailout can be closed until 2018. $150 billion handed over to private entities and no member of the public is allowed to know to how and why.

This is how government intervention in the economy ends. Every time it’s a little more blatant, a little more for the private interests that have captured the interventionists appartchiks, until we get here when the regulators join in and the entire crew is able to loot the treasury right out in the open. When people ask me why I object to government intervention that seems like it should work, this is why. This is where it ends up. The only way to avoid it is to not start. At what point can we admit that as bad as doing nothing would have been, it would be as bad as what has and is happening?

P.S. In looking back on how we got to this particular situation, here’s an interesting take on ex-President Bush’s contribution. It’s a tale of a good man seduced by the destructive memes of the MAL.

Comments — Formatting by Textile
Barry Meislin Sunday, 17 January 2010 at 08:23

Sounds like transparency run amok.…

Annoying Old Guy Sunday, 17 January 2010 at 12:45

What worries me more than the action itself is the brazenness of it. Apparently our political class thinks that the American Street is so far gone there is no longer a need to even pretend we weren’t ripped off for $115B. What if they’re right…?

AVeryRoughRoadAhead Wednesday, 20 January 2010 at 22:33

Tragically, infuriatingly, they’re right.

The public appears to be fed up with the health care legislation debacle, (as well they ought), but it’s small potatoes, literally insignificant, compared to what the Fed and Treasury are doing. But relatively few people understand or care about that, although the repercussions will be both generational and malignant.

Hope that the Boomers will enjoy their peanut butter sandwich, cold water-flat retirements.

erp Thursday, 21 January 2010 at 10:20

Rough, a good honest conservative congress and White House can put things to right if we get a chance. If not, we’ll be glad of that P&J and gas ring heater.

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