Your Ideology Is a National Disaster

“Rep. Henry Waxman: You have been a staunch advocate for letting markets regulate themselves. Were you wrong?

“Alan Greenspan: Yes, I found a flaw … in the model that I perceived that was the critical functioning structure of how the world works.

“Waxman: In other words you found that your view of the world, your ideology was not right.

“Greenspan: Precisely.”

—Testimony, House Oversight and Government Committee, Oct. 23, 2008

Deregulation is a cornerstone of GOP public policy. It gave us Enron, the financial collapse, and the gulf oil catastrophe. Deregulate the luxury yacht market if you want, but when it comes to the environment and things that are necessary for society to function, deregulation is a national disaster. Not even its biggest advocate can escape that conclusion.