The conservative hypocrisy of deregulation

[VeggieTart]

A freebie workaday paper, the Express (published by The Washington Post prints blurbs from blogs they feel are salient. Today was a quote from one called Centerblue.org. Dear Gaia, I so loved the bit so much, I had to read the whole post, and here's a section:

While pushing for a less and less regulated environment, screaming the conservative philosophy that government had to stay out of their businesses so they could fully thrive, Wall Street invented and re-invented all kinds of financial hocus pocus and pretended they were actually contributing to the economy while paying themselves outrageous dividends.

Sooner or later the Ponzi scheme had to stop, and now that it has you hear a whole hell of a lot of screaming on Wall Street, but for something entirely different. Now the screaming is directed at the Fed and its taxpayer money, BEGGING and PLEADING and CRYING and GNASHING for a bailout, so that all those bonuses and six figure incomes and stock options and fancy yachts won’t be relegated to the dustbin of history.

Therein lies the hypocrisy: the Republicans that infest Wall Street insist that the government keep its hands off their finance businesses during the good times…..but when times go bad, they come running and screaming behind Mommy Government’s apron strings.

You can’t have it both ways, sister. If you’re going to push for unlimited freedom from regulation, then you HAVE to take the bitter medicine when all of your plans go awry instead of begging for a taxpayer bailout. Conversely, if you want to have a taxpayer bailout, then you’re going to have to submit your business, especially one so essential to the economy, to reasonable government regulations that require telling the truth and being transparent.

http://centerblue.org/2008/09/15/wall-street-meltdown-reveals-conservative-hypocrisy/

It's a long way of suggesting they privatize the profit and socialize the risk, a song we've heard way too many times since Mr. Bushie got selected.

[Booster]

1. Thanks for posting this. I'm sending all of these articles out to

everyone I know and telling them when they see the word "bailout" that that means they will be paying the bill. I'm hoping that word sticks in their throat until they finally "get it".

[Trajan]

2. AIG is now a government owned entity ....

Just like that Dubai corporation that the GOP so adored ....

Im thinking more and more that it should not have been saved .... The basic thesis of this excerpt is valid ....