A plague on both your houses!

September 19, 2008

Why Obama AND McCain are both wrong on the bailout

I don’t usually comment on general current events (not least because (I’m not American) but I have to say that I am disgusted by the Paulson plan. It is not just that the bailout is unecessary (which it is), a blank cheque for Wall Street (which it is) and something that will set a bad precedent (which it also is) but it is depressing that neither Obama nor McCain have the guts to criticise it. Uncritically deferring to Paulson, the person who got America into this mess, is completely unacceptable in a democracy. If this scheme is so necessary why aren’t other countries aping it? A plague on both your houses!

Note: I am posting in a private capacity and my views may not necessarily represent those of my employer or any other institution.


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