Rescue the Rescue Plan
David Brooks, The New York Times | September 30, 2008
The rejection of the rescue package, led by Republicans, proved the incompetence of US leadership. ++ Most members of the G.O.P. still believe socialism poses the biggest threat and disregard that today's economy experiences huge cycles of bubble and burst due to global capital flow. ++ Greater authority is needed. ++ The Congressional plan is not perfect, but it would have stabilized the situation so that reforms of the world's financial system could be undertaken later. ++ The only remaining thing to do is to rescue the rescue plan.
