The fact is, Bushonomics -- which I'd characterize as large supply-side tax cuts, deregulation, with no regard to fiscal constraints -- has failed... Full Story »
Posted by Kaizar Campwala
The author has a bias that shows in the writing and content of the article. 'De-regulation' is a process that has it's roots and history long before this Bush Presidency and to assert such is associated with just one individuals 'economics' is a false assertion. For instance, he doesn't mention Clinton's signing of the repeal Glass-Steagall in 1999 which was the last of the Depression-era bulwarks against the merging of commercial and investment banks. The result being banks changing from a 'protective' culture to one of 'risktaking', meaning they could enter into the securities business. From such sprung CDS,SIV's,CDO's,etc.
