Hollywood actor and conservative star Ben Stein is no fan of the Wall Street bailout, and tells my colleague, David Eldridge, it’s the beginning of American Socialism.
“This deal is a rotten, stinking deal,” he said. “Once again, the government is the mommy and they’re asking the mommy to come in and save a bunch of spoiled children who went around looting and stealing.”
What’s more, he’s doubtful the proposed bailout solves the crisis: “The problem is not liquidity, it’s solvency. Banks are afraid to put any money out there because they’re afraid the economy is going to tank. That’s not a threat the government can solve with more money — there’s already plenty of money in the system.”
“This is just the beginning of a socialist America. George Bush is going to be remembered as the president who presided over this. I don’t blame Bush, he’s a wonderful man, but I do blame Henry Paulson. He could have prevented all this with the stroke of a pen. Saving Shearson Lehman could have stopped all this.”