On Avoiding Crisis Wastage

clipped from www.powerlineblog.com In the Telegraph, British columnist Janet Daley exposes the effort, on both sides of the Atlantic, to make an "opportunity" out of the present financial crisis: The story so far: some capitalists behaved very badly. While this was going on, the socialists didn't ask questions because they were too busy spending the receipts that flowed from that behaviour. Now, the socialists - who were happy to look the other way during the good times or even to delude themselves into thinking that they were responsible for them - want to use the ignominy of the capitalists to seize the kind of power they thought they had lost forever. ... In Gordon Brown's fantasy, this is an "opportunity" to exercise control over the whole world. Not just stricter regulation by national governments of their own economic institutions, but a wondrous new level of international regulation by supranational functionaries - to be appointed by whom? A World Government agency accountable to no electorate