Libertarian catastrophe

We are angry at the Wall Street businesses because they spent millions of dollars to get rid of regulations so they could be free to commit fraud without fear. Because there are no regulations for international finance, the fraud and corruption in the U.S. spread worldwide and collapsed the global economy.

This libertarian, laissez faire, Milton Friedman philosophy of “the more freedom that the wealthy have, the richer we all will be” has been with us for over 30 years. It has brought on a disaster. They are just turning money into money to get more money.

One of the greatest proponents of the Friedman creed was the discredited Alan Greenspan, who admitted that he was wrong and that markets don’t correct themselves. The debt is overwhelming. There is more than $900 trillion out there in derivatives, officially. Mind numbing! A trillion minutes ago is 1,900,000 years ago! How will they put that genie back in the bottle?

The class war is almost over and the rich are winning, according to Warren Buffett. I say bring back the top tax rates of the Eisenhower, Nixon and Reagan years when they were 91 percent, 75 percent and 50 percent. Those communists!

Bart Haggin

Spokane