14 October 2008
12 Oct
The financial meltdown has taken on epic proportions. The thought is that it can be fixed quickly by intense government intervention. And I mean intense. The verdict is not in. Not long ago talk of such intervention would have been laughed out of court by the market wizards . I don’t hear much laughter now. Not much mea culpa either. What about climate change? Strong government intervention in the tax/regulation system  in support of carbon reducation is derided right now by the same market wizards who said let the markets do their thing as they bulked up on toxic securities based on predatory lending. Looks like someone should ask them to eat their shirt? Anyone out there in this election doing that? If they are maybe we should vote for them?

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One Response for "Financial Meltdown and Climate Change Should the Wizards Eat Their Shirt?"
John,
A carbon based consumption tax would thrust the global crisis onto the backs of the poor! Now that is market wizard philosophy.
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