Don't worry, I'm not drawing any analogies to Sappho. Rather, I am referring to Coulter's outstanding post on World Net Daily yesterday about the Democrats' cozy relationship with Wall Street. Obama's recent pretense of criticizing Wall Street amounts to crocodile tears. Some sources put the dollar value of the Bush-Obama welfare subsidies to the Street at $14 trillion, an order of magnitude greater than any other corrupt subsidy in the history of the world.
Coulter quotes a book that I am putting on my to-be-read list: Peter Schweizer's "Architects of Ruin". Coulter notes that the Dems bailed out Wall Street with respect to Mexico's debt defaults:
"Clinton's treasury secretary, Robert Rubin, former chairman of Goldman, demanded that the U.S. bail out Mexico to save his friends at Goldman. He said a failure to bail out Mexico would affect 'everyone,' by which I take it he meant 'everyone in my building.'"
On the other hand:
"At congressional hearings on Clinton's proposed Mexico bailout a decade later, Republicans Larry Kudlow, Bill Seidman and Steve Forbes all denounced the plan to save Goldman Sachs via a Mexican bailout."
But let us not get overly partisan. Recall that it was George W. Bush who proposed last year's and 2008's massive bailout, the biggest in history. And it was Richard M. Nixon who was responsible more than anyone else for the inflationary late 1970s.
But Coulter is showing considerably more anti-Fed spunk than I've seen from any mainstream commentator since my days with Andrew Jackson's Democratic Party (just kidding, my students think I'm that old).
Let us hope that Fox News, which applauded the bailout in 2008 when it mattered, will take a fresh look at its policies on money and the Fed.
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