Slog - Comments on Do As We Say, Not As We Do http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do World leaders, apparently, are totally pissed that the US is bailing out its own banking system. This, after the US (via the Chicago School) has spent decades telling other countries (especially Third World countries) to not subsidize their failing economies, to let banks fail and markets go bananas, in order to instill market discipline. First, let your banks go against the wall, they said, and then we'll give you some aid. Now that the US is ignoring its own advice, world leaders are carpe-ing the diem and wondering aloud whether the US hasn't been wrong about free-market discipline all along.... Copyright 2008 Wed, 24 Sep 2008 11:03:14 -0800 Wed, 24 Sep 2008 12:00:42 -0800 http://www.movabletype.org/?v=3.34 http://blogs.law.harvard.edu/tech/rss Comment by Greg Yeah, well, the US is not some monolithic entity. I never said that the free market would solve everything, it was politicians and bureaucrats I didn't vote for who said that.

]]> Greg http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149203 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149203 Money Wed, 24 Sep 2008 11:15:25 -0800 Comment by keshmeshi Third World countries that rejected structural adjustment programs have been doing better than those that caved. Says a lot about how much those motherfuckers know about economics, or how much they're willing to lie about it.

]]> keshmeshi http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149208 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149208 Money Wed, 24 Sep 2008 11:19:28 -0800 Comment by left coast If they're too big to fail, then you're going to have to regulate them. Further, if the US is going socialist, then take control of the companies and do market controls (salary caps). The idea that the companies would get to choose which assets to pawn off to the govt from their balance sheets is lunacy.

]]> left coast http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149220 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149220 Money Wed, 24 Sep 2008 11:27:38 -0800 Comment by inkweary We can only hope that this turns out to be a spirtual market correction and leads to some new economic theories that don't always put capital before people.

]]> inkweary http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149221 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149221 Money Wed, 24 Sep 2008 11:28:35 -0800 Comment by inkweary We can only hope that this turns out to be a spirtual market correction and leads to some new economic theories that don't always put capital before people.

]]> inkweary http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149222 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149222 Money Wed, 24 Sep 2008 11:29:23 -0800 Comment by Mahtli69 As long as the world economy is intimately married to the performance of the US economy, then it is in everyone's interest to keep it afloat.

On the other hand, we preach to developing countries not to subsidize their banks because we are trying to maximize our profits and reduce our risks.

There is no comparison between the global impact of the US economy collapsing versus, say, Zimbabwe's or, even, France's (sorry, France).

]]> Mahtli69 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149228 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149228 Money Wed, 24 Sep 2008 11:32:19 -0800 Comment by gk The US consumer is the engine of the global economy. While it pisses me off that the Fed bails out bankers and lets people lose their homes, we have no choice.

]]> gk http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149261 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149261 Money Wed, 24 Sep 2008 11:54:14 -0800 Comment by michael strangeways the bailout is bullshit and illegal.

]]> michael strangeways http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149278 http://slog.thestranger.com/2008/09/do_as_we_say_not_as_we_do#c1149278 Money Wed, 24 Sep 2008 12:00:42 -0800