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Did the Reagan Mantra "Get the Government off our Back" Lead to Disaster? Email Print

The old cliché "The chickens have come home to roost" accurately describes the economic disaster born in the U.S.A.  Now it is spreading worldwide as the government failed to supervise the U.S. banking system.

A noted biblical admonition also accurately describes the current economic disaster, "If you sow to the wind, you will reap the whirlwind."

But we need not worry!  When Bear Stearns was about to go bankrupt, its CEO had waltzed away with approximately $40 million during the last few years of his mismanagement.  Investors were reaping the whirlwind that Bear Stearns had generated.

"Life isn't always fair" is another cliché appropriately fitting today's monumental meltdown in the mortgage market.

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