The Bailout STILL Stinks

It’s great, of course, to be on the cutting edge of change. But the scale and pace of current developments in Washington scarcely leave time for reflection, let alone thoughtful analysis.

Take the recent Wall Street Bailout. Please.

The magnitude of the dollars involved, the speed with which the Congress leaped to throw the national treasure at the bankers, the apparent lack of regard for citizen outrage, the absence of any concern to provide a convincing explanation for their action, the fickle nature of mass media coverage, all cry out for attention. But now, Tuesday’s inaugural extravaganza with its accompaniment of blather from establishment pundits appears ready to swallow all public awareness of any Congressional missteps.

So, I’m thinking that you all will be as happy as I was to see that there is still quality thinking and writing going on, if only one is lucky enough to know where to encounter it. For today’s Wackerfiles offering in this category, I will mention two:

Both of these essays pay attention to economics as if people mattered in the best tradition of E. F. Schumacher

Of course, one hopes that the new administration with its expressed commitment to providing a “Seat at the Table” and ongoing invitation to “Join the Discussion” will actually pay attention to the good stuff. One also hopes that the folks doing the thinking and writing will make the extra effort to put their offerings in front of the new administration in one form or another. And finally one hopes that, with the awareness that, in politics, quantity counts, those of us fortunate to stumble across important writing will take steps to bring it to the attention of policy makers by, for example, uploading a copy or a link to the Transition Team.


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