WHO WILL PROTECT US FROM FINANCIAL DRUNKS?

Another reason we can't elect a Republican president is the GOP's belief in the Free Market Fairy. They seem to believe that the Fairy will take care of any economic problems and we shouldn't "whine" about market fluctuations. This sort of thinking led to a Fed Chairman was was a former disciple of Ayn Rand and we know how well that worked out - 2 bubbles and the Enron scandal.

A Blunter Bush Declares, ‘Wall Street Got Drunk’
July 23, 2008, 8:12 am
Deal Book
NY Times

When he talks about why the economy is ailing, President Bush often turns to euphemism, citing “challenges in the housing and financial markets.” But Mr. Bush offered a far blunter assessment last week at a closed Republican fund-raiser in Houston: “Wall Street got drunk.”

Despite the president’s request that those present turn their cameras off, his comments were captured on videotape that made its way into the hands of Miya Shay, a reporter at the Houston television affiliate of ABC.

“Wall Street got drunk — that’s one reason I asked you to turn off your TV cameras,” the president said at the fund-raiser, held at a private home on Friday to benefit Pete Olson, the Republican who is challenging Representative Nick Lampson. “It got drunk, and now it’s got a hangover. The question is, How long will it sober up and not try to do all these fancy financial instruments?