Ethics

Dumbass Quote of the Day

By Ed Brayton

From Jonathan Weisman of the Wall Street Journal:

While Mr. Summers's speech was billed as a prelude to next week's efforts on financial-market regulation, most of it was devoted to defending the administration's aggressive economic policies.

Those policies have seen the government take control of mortgage giants Fannie Mae and Freddie Mac and insurer American International Group Inc.; take large stakes in General Motors and Citigroup; and usher Chrysler into and out of bankruptcy while shifting the balance of power between creditors and unions.

Except that the takeovers of Fannie Mae, Freddie Mac and AIG took place under the Bush administration. Let the revisionism begin!

Full post as published by Dispatches from the Culture Wars on June 18, 2009 (boomark / email).