From today's WaPo, a letter responding to a recent column by Rethug water carrier and Dark Prince, Robert Novak:
"In his March 20 op-ed column, 'The Fed on a Limb,' Robert D. Novak stated: 'The prospect of a populist new Democratic administration and Democratic Congress that will impose higher taxes and trade protections contributes to what is seen as an international buyers' strike by investors that is feeding the financial crisis.'
Maybe I'm wrong, but I suspect that years of record federal budget deficits, lax fiscal oversight of capital markets (under the guise of 'pro-business' policies) and the tragic diminution of our country's standing in the global diplomatic arena have had slightly more impact on the financial crisis than the impending change in administrations. Nice try, though. Bill Sawicki, Washington"
