tufhelp
03-09-2009, 06:12 PM
" March 9 (Bloomberg) -- Back in the 1960s, Lyndon Johnson gave us the War on Poverty. In the 1970s, Richard Nixon launched the War on Drugs. Now that we have seen President Barack Obama’s first-year legislative agenda, we know what kind of a war he intends to wage.
It is no wonder that markets are imploding around us. Obama is giving us the War on Business.
Imagine that some hypothetical enemy state spent years preparing a “Manchurian Candidate” to destroy the U.S. economy once elected. What policies might that leader pursue?
He might discourage private capital from entering the financial sector by instructing his Treasury secretary to repeatedly promise a brilliant rescue plan, but never actually have one. Private firms, spooked by the thought of what government might do, would shy away from transactions altogether. If the secretary were smooth and played rope-a-dope long enough, the whole financial sector would be gone before voters could demand action."
The link to the rest of the story... (http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=amhp OT5rlR1Y)
It is no wonder that markets are imploding around us. Obama is giving us the War on Business.
Imagine that some hypothetical enemy state spent years preparing a “Manchurian Candidate” to destroy the U.S. economy once elected. What policies might that leader pursue?
He might discourage private capital from entering the financial sector by instructing his Treasury secretary to repeatedly promise a brilliant rescue plan, but never actually have one. Private firms, spooked by the thought of what government might do, would shy away from transactions altogether. If the secretary were smooth and played rope-a-dope long enough, the whole financial sector would be gone before voters could demand action."
The link to the rest of the story... (http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_hassett&sid=amhp OT5rlR1Y)