As this economic hullabaloo has unfolded, the way the 'bailout' money has been handled and the dubious decision making that has taken place, I was struck by how much the way this has been unfolding resembles large portions of Atlas Shrugged. For anyone unfamiliar with it, um, find a good summary somewhere. If you wish to actually read the entire novel, you can save some time by skipping anything that resembles a multi-page monologue and just read the first and last pages.
Then I stumbled upon a Wall Street Journal article comparing the continuing disasterpiece that is our response to financial crises to Atlas Shrugged. Vindication for my musings!
I sincerely hope that no one thinks that the government has been getting good deals with its money. By the way, it's actually your money. Courtesy of my favorite financial blogger, take a gander at how well the government is doing against private investors. But why oh why are we doing so terribly. Well, Mr. Ritholtz sums it up pretty well and it all starts with not having a plan. Unless of course that plan had something to do with reelection which, of course, is always in the interest of the proletariat. Well, the politicians think so and surely that's good enough.
2 comments:
Read "Ascent of Money" by Naill Ferguson and/or watch the PBS program.
Ascent of Money Link
I hope this works.
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