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I learned how many mistakes I could make about investing. Too many. I learned just how stupid I am.
I learned how incompetent a treasury secretary could be. Letting Lehman fail was by far the single worst financial error of the last 200 years. Really beyond imagining. That idiocy by Paulson and Bernanke will be costing us for decades, maybe centuries. Because of the cataclysm that decision caused, we now have a socialist American banking system. We are very close to having a socialized auto sector. It all could have been avoided by a Lehman bailout but Paulson and Bernanke were too stupid to do the right thing. Now we are all paying for it and will be for a long time.
I really never thought I would see socialist America under a GOP president. But once Paulson and Bernanke pressed the “history erase” button, we were doomed. All of the good decisions since the Reconstruction Finance Corporation simply tossed out the window. My pal John Coyne says we as a nation have simply forgotten good sense. He’s right.
To think of the hundreds of billions looted by excess compensation on Wall Street, and now they leave us with this disaster. To think of these guys looting the savers of the nation, looting the men and women who fight in Afghanistan, looting the men who lie in hospital beds at Walter Reed… and they get away with it and we have to pick up the tab.
Something awful has happened and now we have socialized finance. Too many Bernie Madoffs. Not enough human decency.
As my sister says, “Your basic human is not such a hot item.”
Except at Walter Reed. One day a few weeks ago I met a wounded medic named Isaac Jensen. He had been horribly maimed by a bomb in a refrigerator at a home where terrorists had lurked. Despite his wounds, he had saved the lives of two of his squad mates even more gravely wounded. “That’s what I do,” he said, “that’s what we all do. Put someone else first.” He lay in a narrow bed. His incredibly beautiful wife was with him. Her staggeringly beautiful sister and his father were there, too. I would swear they glowed. As my pal Phil said when I sent his photo, they make the women of Beverly Hills look like chunks of stone. These men and women are our salvation, God willing. Otherwise, we will just be sucked dry by our own kleptocracy.
Happy New Year. God help us.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?