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• Title: Atlas Blinked: Fiscally Conservative Republicans were Lost at Sea in the Panic of 2008 (Column)
• Author : Reason
• Release Date : January 01, 2008
• Genre: Reference,Books,Religion & Spirituality,
• Pages : * pages
• Size : 52 KB

Description

EVERY WEDNESDAY in Washington, conservatives gather in the conference room of Grover Norquist's pressure group, Americans for Tax Reform, to hash out arguments and promote their projects. The off-the-record meetings are notorious among liberals: proof of the shudder-inducing organizational powers of the right. In late September, a White House economist arrived at Norquist's salon to sell a proposed $700 billion bailout of Wall Street firms whose investments in worthless mortgage-backed securities had sparked an international financial crisis. In a tense meeting, the president's emissary was turned into a pinata. Pro-market activists and economists with decades of experience battered him with questions, asking whether the administration was putting an end to capitalism as we knew it. The White House's economist responded coolly. Did these people really want to do nothing in the face of the great 2008 meltdown?

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