'Every Man for Himself,' Said the Elephant Among the Chickens
09/23/08 06:40 AM
Andrew Sullivan, squawking the name "Milton Friedman" as if it magically disappeared the ridiculous, sat on Bill Maher's show blaming the financial crisis on American consumers who bought houses they couldn't afford. He was arguing against Naomi Klein's thesis that the crisis belonged squarely at the doorstep of an ideology-obsessed political class and its Wall Street allies.
Secretary of Treasury Henry Paulson made the same argument to George Stephanopulous when pooh-poohing the inclusion of struggling homeowners in his bailout scheme. He said struggling homeowners needed to take responsibility for their obligations.... unlike financial institutions, their executives and CEOs, or the shareholders who gorged on their malfeasance.
Read the rest at Huffington Post.