The Big Picture says that no matter what happens this weekend as the government crafts a bailout to end all bailouts plan, the era of deregulation is over. And he can’t help noticing this is happening after a long period of conservatives holding forth - the same folks who really never liked FDR’s New Deal.
Now they’ve got their own thing, The “New” New Deal.
From The Big Picture:
If you are a fan of irony, consider this: The conservative movement has utterly hated FDR, and his New Deal programs like Medicaid, Social Security, FDIC, Fannie Mae (1938), and the SEC for nearly 80 years. And for the past 8 years, a conservative was in the White House, with a very conservative agenda. For something like 16 of the past 18 years, the conservative dominated GOP has controlled Congress. Those are the facts. We now see that the grand experiment of deregulation has ended, and ended badly. The deregulation movement is now an historical footnote, just another interest group, and once in power they turned into socialists. Indeed, judging by the actions of the conservatives in power, and not the empty rhetoric that comes out of think tanks, the conservative movement has effectively turned the United States into a massive Socialist state, an appendage of Communist Russia, China and Venezuela.
I’s also amusing to count up all the programs the government has created just for this crisis - see the beginning of the post at The Big Picture for the list so far.
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