President Bush reminded G20 members today that free markets are good. Well, thank goodness for that! What with the collapse of global markets and financial systems, but for massive government infusions of cash – but wait! isn’t that inconsistent with a free market? – we might have forgotten.
I mean, okay, I think we’re… well, I was going to say “all” but I should amend it to “mostly” in favor of more regulation since President Bush also went on to say that “There is a clear lesson: Our aim should not be more government – it should be smarter government.”
Since part of the problem is that there has been an absence of government involvement in regulating some of the financial instruments central to this global financial debacle, “any” amount of government would be “more.” Whether it will be “smarter,” well, we can only hope so.