RNS Quote of the Day: 07/01/09

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Like Herbert Hoover, George W. Bush dealt with the economic crisis by providing unprecedented “support” for ailing firms. Through the various novelties designed by Treasury Secretary Henry Paulson and Federal Reserve Chair Ben Bernanke, hundreds of billions of dollars in explicit transfers, and trillions in guarantees, were made from the taxpayers to major financial institutions. By seizing (the press’ verb, not mine) Fannie Mae and Freddie Mac, as well as obtaining outright equity positions in commercial banks, the federal government achieved a partial nationalization of the US housing and financial sectors by the time Bush Left office.

If such moves had been undertaken by a president with a funny name in Central America, no one would think of describing them as “Free Market”, “Laissez Faire”, “Conservative”, or “Libertarian”.

Robert P. MurphyThe Polticially Incorrect Guide to the Great Depression and the New Deal

There is a phrasing in the world of Motivated Photos: When you see it, you’ll shit bricks

If today’s leftists ever saw a real, actual factual Laissez Faire capitalist economy, I believe that that is exactly what they’d do. It would either be bricks or purple twinkies.

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One Response to RNS Quote of the Day: 07/01/09

  1. DirtCrashr says:

    They already shit green twinkies and make them into a sandwich – it’s when they start using it for hair-styling that I get queasy.

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