I think I agree withRobert Reich on the latest proposed bailout.
As a Republican I’m very supportive of free enterprise and the “invisible hand.” But as a student of history and human greed I took to heart early the lessons of the unregulated Stock Market Crash of 1929. Glass Steagall gave us good protection. It was killed by Senator Phil Gramm in 1999. He’s the McCain advisor who just called American’s whiners.
If American taxpayers are going to have to pay off the bad debts of the rich then let’s make sure its taxes on the rich which pays off this most unwelcome financial burden. Barack Obama will tax them not John McCain.
This will mean that a President Obama will have a lot less money to play with but that’s the price we all have to pay for granting the wishes of the regulation-hating GOP
