I associate myself, ex post facto, with every word of Phil’s post below (if he doesn’t mind). His summary of the call with Holtz-Eakin and its implications are dead solid perfect. I would just add two other things Holtz-Eakin said that McCain is proposing. First, there would be a “safety and soundness regulator for every financial institution.” Huh? What in the Lord’s name (or the names of Marx and Engels) does THAT mean? Then, while I myself have suggested — and taken heat from conservatives — that mild steps should be taken by government, indirectly, to provide disincentives for huge executive compensation packages, McCain would go so far as to make Eugene V. Debs happy. Quoting Mr. H-E: for executives, McCain would “make sure that every dollar of cash- and non-cash-compensation is put to a shareholder vote.”
Messrs. Hayek, Friedman, and Adam Smith have now had toxic waste poured into their graves…..
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