tag:blogger.com,1999:blog-23631160.post2690048493822341390..comments2023-10-26T07:25:54.379-04:00Comments on The Old New Englander: McCain's good ideaThe Old New Englanderhttp://www.blogger.com/profile/16526429029137678701noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-23631160.post-4244861331252427332008-09-22T15:03:00.000-04:002008-09-22T15:03:00.000-04:00What would Kristol know about principles?What would Kristol know about principles?The Old New Englanderhttps://www.blogger.com/profile/16526429029137678701noreply@blogger.comtag:blogger.com,1999:blog-23631160.post-56168196323688240462008-09-22T14:35:00.000-04:002008-09-22T14:35:00.000-04:00Paul Krugman has a useful piece on this topic toda...Paul Krugman has a useful piece on this topic today in the NYT.<BR/><BR/>The idea of having equity in the firms whose debt is being bought makes sense. Apparently that was a part of the S&L bailout. It's the essence of capitalism, deciding upon risk based on projected reward. It's revealing that it's the failed capitalists who now object to that basic principle. <BR/><BR/>As Bill Kristol wrote today, "What are cherished principles for but to be violated in an emergency?".Leanderthal, Lighthouse Keeperhttps://www.blogger.com/profile/17398230668313436866noreply@blogger.com