I happened to catch Larry Kudlow at noon, today. Now, I usually rush to change the channel when I hear his scratchy, whiny, voice cut through the chatter. His constant demand that Obama pay attention to the Wall Street Barons that nearly destroyed us, his "Greed is Good!" mantra, his unabashed support for a totally unregulated market and an untaxed population of millionaires, is the most graphic demonstration of crushing stupidity extant on cable, today.
But, this was different!
An entire parade of CEO's who were trying to operate banks through mergers, companies through bail-outs, and fund managers who control enormous piles of cash, gave Ole' Larry a serious case of heart burn. His face was all scrunched up in pain. His color was bilious green and there was a trace of steam escaping from his ears.
It seems every smarmy plea from Kudlow to protest government intervention in the sanctity of markets was met with praise for the Obama administration!!
Every single CEO guest praised the Treasury, the Federal Reserve, and FDIC for "their sensitive handling of issues", and their "flexibility" in dealing with the various competing forces in salvaging the markets.
It was a bitter pill for Kudlow, who has made a living preaching that any government regulation, any government intervention, any attempt to control the rampant risk taking with the money of others, in that holy of holies, The Business Model, was sure to tip us into a Socio/Commie/Hell which would destroy civilization as we know it.
Seems the people trying to salvage a modicum of stability from the train wreck that is the global economy do not agree. They said, variously, that regulation of "dark money" was imperative, Taxpayers deserved to have a say if their money was being used, and the entire concept of too big to fail must be addressed.
Every interview ran counter to every thing that Kudlow has been preaching for decades. It was a joyous hour to see him handed his too tight hat...
You can get the bitter taste of Larry K. here at his blog. Take two aspirin before reading.