Of saints and sinners, banksters and whores (er, parliamentarians)

Peter Klein of Organizations and Markets writes

As I mentioned in a recent talk, one good thing to come out of the bailout disaster is the diminished reputation of St. Alan the Wise. It was fun watching the same Congressional clowns who months earlier praised the “Maestro” as the greatest Fed chair in history slap him down for failing to prevent the housing bubble. Of course, Greenspan, like these clowns, ignored the issue of credit expansion, expressing regret only that he had put “too much trust” in market forces. Ha!

He then links to two posts/ articles by economist Robert Higgs (he’s an Austrian), one on the demise of the TARP and the other on The Bailout of Abominations

As a rule,we may assume that any statute containing the word ’emergency’ in its title, preamble, or statement of purposes is a bad law.
[…]
Yes, my friends, full-fledged socialism has finally arrived, not with the bloody violence that some commies hoped for, but with the shameful collaboration of the people’s elected representatives, under the guise of saving one and all from an impending financial and economic catastrophe too horrible to contemplate.

I am currently reading a novel by Frederick Forsyth in which a character has some issues with Karl Marx-

Across the street he could see the main entrance to the centuries-old Schiller University. Outside was a bust of Karl Marx. A plaque revealed that Marx had taught in the philosophy faculty there in 1841. [M] wished the bearded philosopher had dropped dead while doing it. Then he would never have gone to London and written Das Kapital, and [M] would not now be going through his misery so far from home.

How I wished that had happened – to Marx, and to Nobel. Then there would be no communism, and no Nobel Prize winning jerks influencing government.

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