Free-market Fundementals

The U.S. economy may not be facing Armageddon, but that's no thanks to the anti-regulation, free-market fundamentalists like Phil Gramm and Alan Greenspan.

Over the years they have gutted financial controls and oversight leading directly to the savings-and-loan bailout, the Enron energy manipulations, and now the subprime fiasco.

Bank depositors can feel some measure of security because the conservative philosophy was stopped short trying to reduce or eliminate the New Deal-era government insurance on their accounts.

People would feel a lot less worried if they knew their health insurance was secure, but that's another story.

Andrew March

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