Economic Free Fall?

By William Greider

02/08/08 "The Nation" -- - Washington can act with breathtaking urgency when
the right people want something done. In this case, the people are Wall
Street's titans, who are scared witless at the prospect of their historic
implosion. Congress quickly agreed to enact a gargantuan bailout, with more
to come, to calm the anxieties and halt the deflation of Wall Street giants.
Put aside partisan bickering, no time for hearings, no need to think through
the deeper implications. We haven't seen "bipartisan cooperation" like this
since Washington decided to invade Iraq.

In their haste to do anything the financial guys seem to want, Congress and
the lame-duck President are, I fear, sowing far more profound troubles for
the country. First, while throwing our money at...