Wednesday, April 08, 2009

A different proposal

Simon Johnson of MIT appeared on Bill Moyer's Journal to discuss another way to handle the current financial meltdown. He summarized his idea as a "scaled up FDIC intervention", and suggested that the trust-busting techniques of Teddy Roosevelt should also come into play.

See the interview here

Put me down as favoring his plan, not because I am an economist but because I know that there is no welfare cheat like a corporate welfare cheat.

In October of 2008, George Soros appeared on Bill Moyer's Journal to discuss the economic situation. There is similarity between what he says and what Simon says.

That interview is here

An interesting quote from that interview, I thought, was this:

"I think our ability to govern ourselves doesn't keep pace with our ability to exercise power over nature, control over nature. So we are very complicated civilization. And we could actually destroy our civilization because of our inability to govern ourselves."

- George Soros -

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Foot Quotes

"Ignorance more frequently begets confidence than does knowledge"

Charles Darwin