Thursday, September 18, 2008

now what?

Robert Gordon and James Kvaal wrote an article in The New Republic considering the candidates' views on how to fix the mess we are in on Wall Street. Ultimately, they concluded that it is not about blame on how we got here; it's about what we are going to do now that we are here: It's time for FDR's regulatory system to adapt to the 21st century. Barack Obama understands this. John McCain does not.

The article is worth reading in its entirety, but my favorite line might well be the last sentence: " . . . with the Federal Reserve taking an 80 percent stake in a gargantuan private insurance company, it is hard to know who the socialists are anymore."