This guy is still a central planner at heart. Social safety nets, welfare, education, etc. He loves spending other people's money.
The only benefit is the banks didn't get to suck in all that tax payer money first and bid up prices for assets ahead of everyone else. Or, I assume, make risky bets on plays that would end up on the taxpayer if they went south.
When we count this as some sort of victory, we are in big trouble.
When he was minister of finance back in the 80´s,
ReplyDeletehe was given the nickname “Skattmann”, or taxman in english.
This sketch portrays him very accurately:
http://www.youtube.com/watch?v=-qIfjVjLqpY
This guy is still a central planner at heart. Social safety nets, welfare, education, etc. He loves spending other people's money.
ReplyDeleteThe only benefit is the banks didn't get to suck in all that tax payer money first and bid up prices for assets ahead of everyone else. Or, I assume, make risky bets on plays that would end up on the taxpayer if they went south.
When we count this as some sort of victory, we are in big trouble.