A Comment About

Who Won Round Two?

October 7, 2008 - 8:05 pm - by Jennifer Rubin
JustPassingThrough
2008-10-08 09:43:46

Fred,

Because without stage presence Obama has nothing but a sonorous voice over.

Here’s an example of someone who should know better buying into the voice over superficials. It’s from another blog owner, so I should give it attribution – Althouse – who was convinced by performance in last night’s debate rather than the actual record to abandon neutrality. She bases this on this interpretation the economic crisis.

“I’m saying it because I am inclined to think that with the development of complex securities and the pursuit of profit along the edge of disaster, the free market failed spectacularly. When we need new regulation, Obama effectively associated McCain with his party’s love of deregulation.”

It’s superficial and rather embarrassing given her usual perspicity to call this a failure to regulate a free market, when it was government policies – regulation – that distorted the rules the free market then conformed to. Free markets always pursue profit along the edge because that’s where the money is. The problem is that the edge was unsupported or rather only supported by government intervention – regulation. Had it really been a free market operating without government modification of risk, those edgy loans would never have been underwritten.