The inability for the Irish government to prevent a total collapse of the country's financial system by pumping 68 billion Euros into her banks is an object lesson on the limits of government power and creativity. The Fed is making the same mistake by pouring another $600billion into the economy.
There seems to have now developed among officials at the highest levels of our government a contempt for market mechanisms and private enterprise. Bashing big business and denying the consequences of individual choice in a free market by the same tired tax and spend policies is, at the very least, ignorant. More likely, such thinking shows hubris of the worse kind.