Friday, January 23, 2009

The New Economy

I'd like to clip a comment from Paul Krugman, in the Op-Ed section of the NYTimes yesterday, that characterizes a moment in Obama's Inaugural Address that had me scratching my head as well:

"Thus, in his speech Mr. Obama attributed the economic crisis in part to 'our collective failure to make hard choices and prepare the nation for a new age' — but I have no idea what he meant. This is, first and foremost, a crisis brought on by a runaway financial industry. And if we failed to rein in that industry, it wasn’t because Americans “collectively” refused to make hard choices; the American public had no idea what was going on, and the people who did know what was going on mostly thought deregulation was a great idea."

I second that. This was meant to be the People's why blame the economic meltdown on its victims?

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