Oh, what the USA could do with $700 billion in public transit infrastructure.
The good thing about this, is that when the libertarians start howling about how markets should be left unregulated, people are going to laugh in their faces. There may even be an unexpected fad for oversight and regulation.
I think Paulson has spectacularly overplayed his hand. By pushing for everything he let the mask drop, and everyone is suddenly saying 'Now wait a minute...' It's not just going to cost him the deal but the next election, and it has undone 30 years of propaganda effort almost overnight.
It may even make Obama begin to wonder if associating with these pirates is really such a good idea.
The good thing about this, is that when the libertarians start howling about how markets should be left unregulated, people are going to laugh in their faces.
Right on the button tbg: this is one of those rare "reputation meltdown" moments.
Such a moment happened to the Tories when Soros fucked Sterling.
It finished them. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
