An opinion piece at TPM Cafe by liberal economist Robert Reich - the Harvard (now Berkeley) econ. prof. who is a member of Pres. Barack Obama's economic advisory team and was Labor Secretary under Bill Clinton - has caught my eye. In it, Reich correctly, on behalf of the American taxpayer, expresses buyer's remorse with respect to all of the bailouts - and lemon industries - that the Bush administration, via Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke and a complaisant US Congress, have bestowed on the American people and the Obama administration.
It's nice to see a liberal economist who regrets the bailouts and opposes further TARP expenditures; too bad he doesn't see that a massive stimulus program and other government economic micromanagement is a great way to turn the rest of the economy into "lemon socialism".