An opinion piece in today's Wall Street Journal puts it well...
"We (Americans) believe that we can get ahead through innovations because the game isn't stacked in favor of the powerful....We are less prone to begrudge our neighbors' fortune if we think it was fairly earned and that it has not come at our expense....
To sustain these beliefs, Americans must see their government play the role of an even-handed referee (emphasis added) rather than be a dispenser of rewards or even a judge of economic merit or contribution. The panicky response to the financial crisis, where openness and due process have been sacrificed to speed, has unfortunately undermined our faith. Bailing out AIG while letting Lehman fail -- behind closed doors -- has raised suspicions of cronyism. The Fed has refused to reveal to who it has lent trillions."
Food for thought...read the whole thing.
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