Saturday, April 18, 2009

Stiglitz says Lobbyists will Doom Effort from the Start

April 17 (Bloomberg) -- The Obama administration’s bank- rescue efforts will probably fail because the programs have been designed to help Wall Street rather than create a viable financial system, Nobel Prize-winning economist Joseph Stiglitz said.

See, this is exactly the reason I wish McCain would have won. Instead of waiting until the problem gets so big that there's no other choice in the matter, we take our revolution out of the oven a little bit too early, and the lobbyists take advantage of a weakness in the urgency. We've been given a chance to prove to the world that we don't need a catastrophe before we act and we blow it by letting lobbyists shape the very legislation that will help us.

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