Okay, if you didn’t believe me before about the rich then you have to at least begin to wonder what these people really have up their sleeve now. Just go ahead and read this incredulous piece about George Soros, who is … get this… going to spend $50 million of his ill-gotten money on … get this … not just a study but to found an “institute” to explore government regulation of the financial “industry”. Well gosh, isn’t that special! The man who single handed led Barack Hussein Obama through a guided tour of his media conglomerate PR wing of his financial empire and told him that he could be their affirmative action hero if he really wanted to. After all, he’s ‘clean’ and ‘articulate’… Yes, George Soros is going to go ahead and wed the government to his vision of the financial world, and we’re off to the races. And by the way, if you think the same way then you’re racist… And oh, by the way, if you were George Soros and needed a mafia to back you up, then Chicago is the place to go shopping for your house nigga…. Take that, Rachel Madcow… and MSNBC… and Chris ‘Tingley Leg’ Matthews… Congress comes along for the ride, too. Hell, all the czars pile on as well. The media, the government, and finance are all married up now.
By Michael Hirsh
Newsweek
October 27, 2009
“Large swaths of economics are going to have to be rethought on the basis of what’s happened.” So said Larry Summers, President Obama’s chief economic adviser, in an interview in the weeks after the markets crashed a year ago. Yet to a remarkable degree, economic thinking hasn’t changed very much at all.
Now financier George Soros is announcing a $50 million effort to speed things along. This week Soros is gathering some of the leading practitioners of the market-skeptic school, who were marginalized during the era of “free-market fundamentalism,” among them Nobelists Joseph Stiglitz, George Akerlof, Michael Spence, and Sir James Mirrlees. He’s also creating an “Institute for New Economic Thinking” to make research grants, convene symposiums, and establish a journal, all in an effort to take back the economics profession from the champions of free-market zealotry who have dominated it for decades, and to correct the failures of decades of market deregulation. Soros hopes matching funds will bring the total endowment up to $200 million. “Economics has failed not only to predict and explain what happened but has also failed to protect society,” says Robert Johnson, a former managing director at Soros Fund Management, who will direct the new institute. “That’s what the crisis revealed. The paradigm has failed. There is no guidance.”
It might be tempting to dismiss all this as a war of words among brainiacs. It’s not. The critical issues being discussed in Washington about the future regulation and control of the financial industry—the very nature of Wall Street and the health of the economy—depend on this battle of ideas. What led to wholesale deregulation in the ’90s and ’00s wasn’t just Wall Street lobbying money. It was also that key legislators and policymakers, among them Larry Summers, persuaded themselves that deregulation was sound economics and good policy, and that markets and Wall Street institutions could take care of themselves. Many of those views have been discredited by the crisis. But in the absence of a new paradigm of economics, confusion still reigns in Washington. With no new concept of the proper role of government and regulation in the economy, of the proper balance between the markets and their minders, the old school still dominates.
In case you thought this was some kind of joke, it took somebody a lot of time to do this image so well and with the words so eloquently well put…
This entry was posted on Wednesday, October 28th, 2009 at 12:32 and is filed under Free Speech. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
