[The Washington Narrows, looking toward Dye's Inlet, Tracyton, WA, April 29, 2010]
This evening's CBS Evening News reminded me of that great conservative article of faith--to wit, if we just "unleash the private sector" our economy will fix itself.
The Chairman and Chief Executive Officer of Lehman Brothers must not have been on a very tight leash. He reportedly claimed over 5 million dollars in compensation before his company went bankrupt.
Apparently, British Petroleum was not required to invest in a back-up shut-off system for the oil platform now leaking thousands of gallons of oil into the Gulf of Mexico. The news report priced such a system at $500,000. BP's leash, likewise, couldn't have been too tight.
So much of the populist conservative rhetoric we're hearing these days reminds me of the sort of binary thinking we used to call the either - or fallacy. To hear the demagogues tell it, either we have a completely unbridled free marketplace or we have socialism. Frankly, considering what has happened to our economy, and what is now happening to our environment, I think a little socialism would be a very good thing. --EFP