by Cameron Salisbury
Featured Writer
Dandelion Salad
Opedinfo.com
March 19, 2009
If you only have a hammer, every problem looks like a nail.
And so it is with Ben Bernanke, Timothy Geithner, Henry Paulson, the entire East Coast financial establishment, innumerable Ivy League economists including Paul Krugman, and people who really should know better, like the media, Congress and the President.
Truly mindless fuzz continues to flow out of Washington, accepted as gospel by both its inhabitants and the media. For example, there’s the idea that the worldwide financial crisis can only be solved by the same institutions and people that created it; that the banking sector needs lots and lots of additional money and political support to solve problems that trillions of dollars so far have not; that months of nonexistent positive results means only that we haven’t handed financiers sufficient loot; that the failure to bail out Lehman’s is what caused this whole mess; that reinvigorating casino capitalism is the way out of the dilemma; that public outrage shows that the rest of us just don’t get it.
Worse than senseless, the nonsense that passes for conventional wisdom in the corridor between New York and Washington, D.C., is worrisome on a number of levels.
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