I sent the following LTE to the Wall Street Journal on March 18th.
Dear Editor:
The first line of the column just below the fold in Tuesday's issue states, "The past six days have shaken American capitalism." (The Week that Shook Wall Street: Inside the Bailout of Bear Stearns, WSJ, March 18, 2008)
Capitalism? Why should capitalism be shaken, unless it is for fear of the next wave of disease that will be administered as a cure? This is the story of decades of government meddling and tinkering, pushing here and pulling there with an increasingly heavy hand; of the Fed "throwing its rule book out the window," as the article says, in haphazard, desperate, and contradictory fashion. It is Washington that should be shaken by the failures of its intrusion, not capitalism, which is scarcely recognizable any more.
They didn’t publish it, of course, but I felt better after having sent it.
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