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Such a climate deal

By Tom Toles

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Friday Rant

Last Friday I gnashed my teeth at the fact that we were talking about Wall Street bonuses instead of Wall Street orange jump suits. I suspected no laws were actually broken, because all relevant laws had no doubt been repealed. Stratus clouds of gloom rolled in. But then Robert Reich’s Salon piece reminded me of Sarbanes-Oxley!, and a promising part of it, indeed. Those signatures! Yes, the place where CEO's had to sign their NAMES, certifying that they were USING REAL NUMBERS.

Okay, so now we'll see if everyone continues to avert their eyes, or if we just establish how high your penthouse needs to be before you're above the law. But for me, one more time I bang my spoon for accountability. Jail! --Tom Toles

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By Tom Toles  | April 2, 2010; 12:00 AM ET
Categories:  Environment & global warming, Obama White House  
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Comments

Amateur artwork. Tired left wing content. Son of Herblock.

Posted by: bobbo2 | April 5, 2010 9:54 AM | Report abuse

gss49,

Greenspan and his ilk are not truly Free Market economists.

Greenspan was a strong Keynesian in that he believed credit expansion (money supply) was necessary to nurse a shrinking economy back into a growth economy. Credit expansion is the antithesis of a classical free market economy.

I know that many want to condemn the free market for our current woes ( I myself am unemployed), but there is significant historical evidence that all boom and bust cycles are created through monetary expansion by Greenspan's ilk via the Federal Reserve (today) and the Second National Bank (pre-1913).

I have read and studied both Keynesian and Classical economics. After reading some 20+ books and many studies of the booms and busts of the 19th and 20th centuries (USA); I am convinced.

The hardest thing for the government to do is sit back and let the market digest its overreach (classical). Instead, our well intentioned leaders are compelled to meddle (Keynesian) by floating companies that should be shuttered, fixing prices, and subsidizing income in the hopes that the economy will catch up to itself and pick up where it left off. In the 6-8 boom/bust periods since the 1840's this has never ended in short order or as 'planned'.

Posted by: brent6 | April 2, 2010 6:29 PM | Report abuse

Nothing is illegal until you get caught. If the people in charge are of the Greenspan/Reagan ilk, then markets are independent entities that will always self correct, even when fraud is involved. Fraud is looked at as a creative avenue for entrepreneurs, and if it doesn't work, the market will trash it. Unfortunately, Greenspan clones have been in charge since Reagan, throughout Clinton, and are still key players in the Obama Administration. They are as likely to enforce market oversight as Obama is to enforce anti-miscegenation laws.

Posted by: gss49 | April 2, 2010 1:29 PM | Report abuse

Hey Tommy, weren't you one of those kids in high school who spent their day in a Walter Mitty fantasy world drawing little cartoonies during class and shutting off your attention to the teacher?

That's why no one can take your opinions seriously. You're a child in a man's body.

In regard to your bullet cartoon, ya think any of those hood-goons had legally-registered guns? I suppose they bought them the minute after the Supreme Court deemed DC's total gun ban unconstitutional.

Posted by: rickcastelli | April 2, 2010 9:47 AM | Report abuse

Whooah, whooah, whooah.. hold up there old buddy! This looks dangerously close to something like a criticism of President Obama. Better up your medication Mr Toles.

Posted by: colonel5 | April 2, 2010 6:44 AM | Report abuse

So Mr. Toles thinks that one should get a deal before one makes concessions. That way one is sure that the other side will do their part.

How about applying that to the settlements of Israel? They need to swap the settloements at a peace conference and not now.

Otherwise the Arabs may have no reasons for peace.

Posted by: gary4books | April 2, 2010 5:08 AM | Report abuse

And nobody is getting anymore nuclear power plants or off shore drilling either or at least until the Republicans reconcile it through and reconcile through oil drilling in Anwar too.

Posted by: Champions | April 2, 2010 4:50 AM | Report abuse

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