The only part of Saturday’s editorial — “Fed seeking permanence in private sector” — I disagree with is this statement:
“The way the Bush administration used 9/11 to vastly expand government power and secrecy reminds us how the Obama administration is using the current economic crisis to vastly expand the government’s involvement in private business.”
The reason government got into the financial crisis was to keep the world economy from collapsing due to greed from private business.
Intervention was deemed critically necessary by nearly all economists.
Government has to put in new laws, (in sports, rules), to try and avert the same thing happening again. We are a country of laws. To function to the benefit of the populous the free market also has to have laws.
The final paragraph in the editorial is vital to our Democracy:
“This is a reminder of how corrupting power can become and how desperately Americans need to carefully monitor the activities of every administration, regardless of their party affiliation and political ideology.”