Socialism 101: What Would Ayn Rand Have Done?
Posted on September 21, 2008
“It’s a complete disaster,” said Yaron Brook, the executive director of the center. “Its a form of national socialism of the financial markets…This is socialism 101.”
Named after the Russian-born novelist who celebrated in her writings the risk-taking individual (and put the black hat on a sniveling, forgiving government that wouldn’t let mediocre enterprises and their leaders fail), the center is a lonely beacon of small government and private enterprise in Washington at a time when big government appears to be on the comeback. Black-and-white photos of the controversial writer sit on desktops here; her many novels fill most of the bookshelves; in one office, a blowup of her postage-stamp image (something Rand probably would have abhorred —government embrace of her work!) — adorns the wall.
Brooke argued that the Bush administration had opted for stability over free markets and noted: “The Soviet Union was very stable too. But where does it end?”
Looking across the various levers that Treasury has pulled, Brook was hard pressed to say which bailout was the most egregious in Randian terms, but suggested that the takeover of AIG by Treasury and the Federal Reserve was particularly troubling because there is a chance that the government will actually profit from the selective sale of AIG’s assets someday. “The Fed might make a lot of money on the AIG deal,” he said. “We’re turning the Federal Reserve into a hedge fund.”
Brook doesn’t blame speculators, traders or financiers for the market’s near-collapse, but instead blames government for having overregulated the markets in the first place. The business leaders bailed out by government this week “are victims,” he said, “and the government set it up.” Washington underreacted to previous crisis, let Fannie Mae and Freddie Mac spin wildly out of control as quasigovernment agencies while taxpayers piled up unsecured debt in their names. The crisis, he added, was “really fed throughout by government policies.”
» Filed Under 1st Amendment, Communism, Economy, Fiscal Responsibility, Illegal Activities, News, Socialism, U.S. Constitution
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I have to say, I’m impressed that anyone on this blog knows who Ayn Rand is. And to question what she would have done, during the crisis we are going through, is flat out laughable.
“Brooke argued that the Bush administration had opted for stability over free markets and noted: “The Soviet Union was very stable too. But where does it end?””
Now, seeing that on this blog makes me laugh. Jay, you know you’re my buddy, but come on. This blog has Cheered for EVERYTHING President Bush has done.I’m amazed that you would put something like this on here.
How interesting after 7 and a half years, you guys finally wake up to the fact that Bush is nothing more than a Socialistic Democrat, and we are about to go into one wild ride with the Economy. And, you’re quote Ayn Rand of all people.
Next thing you know, you’ll be quoting Ron Paul and reading books by Murray Rothbard.
Well, one can hope.