I could be wrong in asking this only to Dave. But if my memory serves me, dave is on board with a Free Market economy. Dave likes to give his opinion on fiscal matters too, so I don’t think I’m out of turn on this one. And we all know that he has been very supportive of Bush and his way of creating a Free Market Economy. I can’t help but ask if this is what Dave and other conservative consider a Lazze Faire Approach?
I ask because when a company like Bear Sterns was 5 minutes from getting flushed in the shitter today, our Free Market Economic approach Bush Style kicked into high gear today.
Now put this on top of this news:
Last week, the Fed announced an industry-wide rescue package that would provide as much as $200 billion in loans to banks and investment houses and allow them to put up risky home-loan packages as collateral. It was the Fed’s latest effort to stem a global credit crisis that began last August with rising loan defaults for subprime mortgages, loans provided to borrowers with weak credit histories.
and you have yourself one heck of a conundrum
UPDATE: OH MY….
NEW YORK – President Bush preached optimism and Republican orthodoxy of minimalist government intervention Friday as the best approach to an increasingly troubled economy.
His main message, aside from displaying confidence in the U.S. economy’s underpinnings and historical resilience, was to caution against overreaction by policymakers that could damage the economy’s short- and long-term prospects, something he did about a half-dozen times in 40 minutes of remarks.