Donald Luskin claims to be a libertarian. However, his own words would indicate something else. In a recent blog post, he rails against both the limitation on pay and bonuses to TARP receiving bank executives and the federal money going to those home owners facing foreclosure. In other words, money going from the Treasury to a stupid home buyer who paid too much for a house is bad policy that rewards people for poor decisions. However, money going from same Treasury to a stupid banker who created the financial tools of our own destruction is money well spent, and we should not limit their pay to something under the millions.
Donald Luskin already has revealed himself to be an idiot when he announced that we were not heading for a recession the day before Lehmen brothers went bankrupt:
"Anyone who says we're in a recession, or heading into one — especially the worst one since the Great Depression — is making up his own private definition of "`recession.'"
The Washington Post, Sept. 14.Now he exposes himself as
bourgeois,
elitist, and socialist. Government bailouts are only good for the extremely rich, not anyone else.
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