"The financial crisis of 2008 had its roots primarily in ill-conceived government policies," reads the memo. It was prepared by Republican staffers to advise GOP members of the House Committee on Oversight and Government Reform on how to handle a recent hearing on the government's role in Bank of America's purchase of Merrill Lynch.Somebody at GOP-HQ has finally got a clue to what Michelle Malkin -- and Heritage, and Cato, and Instapundit, and every other actual pro-market individual or institution in America -- has been saying for more than a year: Keynesian "pump-priming" does not work, and is not conservative.
The memo attacks Bush's -- and Obama's -- bailout policies for exacerbating the crisis. "Given the role of government policies in creating the conditions for the housing bubble which caused the financial crisis, it is remarkable that the prescription of the Bush Administration and the Democratic Congress was more government intervention in the economy," it says. "The Obama administration has not missed a stride."
Next, it may become safe to say what Bruce Barlett said in 2006: George W. Bush never was a conservative.
Free at last! Free at last! Thank God almighty . . .