Tuesday, March 18, 2008

Invisible hand and iron fist

How does one sue the government or can you even sue the govt? I'm wondering about this question because obviously a lot of BS employees and stakeholders are pissed at the Fed.
And when you sue the govt what can you get? Govt officials can stand to lose only their jobs, I can't think of anything else. The plaintiffs don't stand to gain anything. I'm trying to think of situations where the US government has committed wrongs (maybe even sins!) and what the repercussions were. In the case of annexing Hawaii illegally -- nothing but a statement of apology. In the case of slavery, the myth of 42 acres and a mule.
I guess in times of trouble, like during the Great Depression, the government tends to take a very active role. A sure sign we're headed towards something of that nature given the events over the past few days...I guess we let everything run merrily along under laissez faire which created the crisis in housing/sub-prime/lending. Now the Feds have to step in. Adam Smith is rolling in his grave.

1 comment:

frank said...

This really gives the lie to all those conservatives who say they believe in "small government" and the wisdom of "the people" tokeep things going. In time of crisis where else are we to turn except our government? It seems our government has to protect us not just from evil powers abroad but from ourselves as well.