It is rainy, cold, and messy outside
Too many obnoxious umbrellas and impatient pedestrians
So it is fitting that Bush is here today.
His Defense:
“Ultimately, the best evidence for free market capitalism is its performance compared to other economic systems,” he will say. “Free markets allowed Japan — an island nation with few natural resources — to recover from war and grow into the world’s second-largest economy. Free markets allowed South Korea to make itself one of the most technologically advanced societies in the world. Free markets turned small areas like Singapore, Hong Kong, and Taiwan into global economic players. And today, the success of the world’s largest economies comes from their embrace of free markets.
“Meanwhile, nations that have pursued other models have experienced devastating results. Soviet communism starved millions, bankrupted an empire, and collapsed as decisively as the Berlin Wall. Cuba, once known for its vast fields of cane, is now forced to ration sugar. And while Iran sits atop giant oil reserves, its people cannot put enough gasoline in their cars.
Some improvements:
Making financial markets more tranparent, including improved accounting rules for securities, investors will better understand what they’re buying.
Through proper regulation of sophisticated financial products. That includes processing of credit default swaps — which insure investors against potential losses — through centralized clearinghouses rather than through unregulated over-the-counter markets.
There should be enhanced national regulation of financial markets around the world.
There should be better coordination of national laws and regulations, as well as reform of the International Monetary Fund and World Bank, which are viewed by many critics as unfairly dominated by industrialized countries of Europe and North America.
I never thought I would hear a Republican call for government ”transparency” and “regulation” and from all people
….up is down and down is up.
These last couple of weeks have been full of surprises…most of which are coming from the White House. I honestly can’t disagree with his defense, since I believe in capitalism too (my apologies to all the comrades of the country) I would not be surprised at all to see something totally un-Bush like happen in the next couple of weeks. Dare I say, I am beginning to think he was moved by November 4th…then again…I could be dead wrong, which is more likely.
Its rainy, cold, and nasty outside
Bush is here.
Funny, I feel alright about that.
