Thursday, October 09, 2008

Now we're rightfully being dissed by South Korea or "bushie, you got a lot of 'splain' to do…

posted by Bill Arnett @ 11:43 AM Permalink

…which should shame our leaders, but won't.

Excerpts from an article titled, "Criticism of U.S.'s Example Rises Before Key Economic Meeting":
With its toxic securities and its insistence on open markets, the United States has a lot of nerve and a lot to answer for. That, at least, is what South Korean Finance Minister Kang Man-soo argued as he prepared to leave for a weekend meeting in Washington of finance officials searching for ways to calm the global financial crisis.

"The United States almost forced the rest of the world to open up their financial sectors," Kang said in an interview here. "It has been telling the world that its derivatives are an advanced technique created by some genius."

Instead, they have helped trigger a financial crisis that has locked up world markets, brought down once powerful financial firms, and undermined otherwise healthy economies like South Korea's.

"When there is a problem, only the G-7 gets together to resolve it," Kang said. "I find this kind of behavior to be inconsiderate."[…]

In the interview, Kang made it clear that he and many South Koreans are upset by the financial example set by the United States, which is South Korea's most important ally and its capitalist role model.

"Derivatives and hedge funds are like casino gambling," he said. "A lot of Koreans are asking how can the United States be so weak?"
The easy answer to South Korean Finance Minister Kang Man-soo is that this crisis was inflicted upon America by the failed and wretched policies of the Republican Party's reckless explosive increase in the size of our government and the totally irresponsible borrow and spend, borrow and spend, and borrow and spend policies of the GOP, along with proof positive that the "trickle down economics" the GOP has favored ever since Ronnie Raygun is an abject, embarrassing, perfidious failure and is now (hopefully) forever discredited.

Labels: , , , , , , , ,


Post a Comment

<< Home