[Dr. Sivana]

While I don't completely agree with the author's analysis, he did have one great line in there:

Anything ancient enough to have Old Testament strictures against it is going to be with mankind forever.

[Leisler]

( Said with lockjaw voice....”Ah, yes, Greenwich...I have a summer house there and my sailing Yacht. Mr. Romney, financialist, loves it there, Darling. Just gaga over it! Another Gimlet, perhaps?”)

Seen and unseen.

Seen is that the financial elite, Wall Street, Greenwich Country Club, Banks and other fat skimming rackets are saved. Oh, and M. Friedman’s precious fiat paper scheme.

Unseen is the destruction that has occurred to the non-elite, that never wanted, that never understood, and do not support a by force, ‘mandated’ if you will, Federal Reserve Corporation, LLC.

So, I suppose it’s nice all the Monopoloy( or is it Monopsony ) pieces are back on the board of the game called “Federal Reserve and Friends”.

[NonValueAdded]

Ok, that's a new one on me:

kid⋅ney
–noun, plural -neys.

4. constitution or temperament: He was a quiet child, of a different kidney from his boisterous brothers.
5. kind, sort, or class: He is only at ease with men of his own kidney.

thank you dictionary.com

[9YearLurker]

Can someone refresh my Friedman? I’d have thought his point on squeezed out credit would be that the government squeezed the public out of the market by taking on such debt itself.

Is this anything other than the dep. managing editor sucking up to the managing editor that on the surface it appears to be?

Thanks.

[ari-freedom]

I hope you liked this bailout because we’re going to keep bailing them out again and again and again...

[Cooter]

If you are a libertarian, is not our current course more favorable for liberty than would have been a repeat of 1929–1931? If not, I would be curious to hear your counterfactual version of how matters would have proceeded, without the financial bailouts.

I would submit to the author: The Great Depression of 1920

[mission9]

The TARP was sold to the public as:

“Toxic assets, we don’t know what they are worth...”

So the Government was supposed to buy the assets and take them off the Bank’s books.

“We have got to keep people in their homes, and stop these foreclosures...”

Within two weeks of passage, buying troubled properties was out the window, and buying banks was the order of the day.

This was the huge swindle, and Milton Friedman would have never sanctioned it. Dragging him into this pathetic rationalization after the horse is out of the barn is shameless.

All the people who perpetrated this crisis either are still in positions of responsibility, or got a big commission.

[Recovering_Democrat]

I somewhat understand this person’s points—but still don’t necessarily see how it is GOOD that we did the TARP.

I don’t understand all of this monetary gobbldeygook, but I DO think Friedman was not a big fan of government intervention.

Can anyone help me out? Give me a 5 year old’s version?

[nickcarraway]

When is The National Review merging with The Nation.