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Economic Crisis Solution: Give Bush More Power

Jul 31, 2020
Since Treasury Secretary Henry Paulson unveiledthe administration’s plan for overhauling regulation of the financial markets on Monday, there’s been plenty of reaction.
Here’s my favorite so far, from Phillip Carter at Slate:
So, let me make sure I have this right. The administration embraced deregulation and free market theory as if it were handed down from Mt. Sinai. It then sat idly by while the sub-prime mortgage market imploded, and watched as that market’s failure trickled up into other sectors of the economy. All the while, this administration spent taxpayer money like a drunken sailor (to use Sen. John McCain’s memorable phrase), running up the federal debt and mortgaging our grandchildren’s future. And the administration pursued wars in Iraq and Afghanistan likely to costthe country $3 trillion. And now, they want the people trust the Bush administration by giving it more powerover the American economy?
Paolo Reyna

Paolo Reyna

Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies. Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most. In his free time, he loves to travel, watch films, read books, and socialize with friends.
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