Mirror of Justice

A blog dedicated to the development of Catholic legal theory.
Affiliated with the Program on Church, State & Society at Notre Dame Law School.

Monday, October 27, 2008

Education Spending and the Failure of Educational Progress

To consider along with the posts yesterday and today, which pick up on my earlier posts about the fundamental importance of education to social justice, the online article by Steven Malanga, provocatively titled, “We Don’t Need Another War on Poverty,” is chock-full of valuable statistics. Herewith an excerpt from his discussion on education funding:

Though Obama has supported some education reforms, such as charter schools, his plan for fixing urban schools by showering more federal money on them is another attempt to revive tin-cup largesse. In his signature education speech, Obama described visiting a high school outside Chicago that “couldn’t afford to keep teachers for a full day, so school let out at 1:30 every afternoon,” adding that “stories like this can be found across America.” Later, he said: “We cannot ask our teachers to perform the impossible, to teach poorly prepared children with inadequate resources.”

In fact, the U.S. has made vast investments in its public schools. According to a study by Manhattan Institute scholar Jay Greene, per-student spending on K–12 public education in the U.S. rocketed from $2,345 in the mid-1950s to $8,745 in 2002 (both figures in 2002 dollars). Per-pupil spending in many cities is lavish. In New York, huge funding increases dating to the late 1990s have pushed per-pupil spending to $19,000; across the river in Newark, state and federal aid has boosted per-pupil expenditures to above $20,000; and Washington, D.C., now spends more than $22,000 a year per student. Yet these urban school systems have shown little or no improvement. “Schools are not inadequately funded—they would not perform substantially better if they had more money,” Greene observes. An Organisation for Economic Co-operation and Development study found that most European countries spend between 55 percent and 70 percent of what the U.S. does per student, yet produce better educational outcomes. If some urban school systems are failing children, money has nothing to do with it.

Greg Sisk

Saturday, October 25, 2008

David Warren on Obama's “Messianic Pretensions”

Canadian commentator David Warren gives expression to the concerns that many of people of faith have about the man likely to become the next President. Herewith an excerpt (full editorial here):

Obama has presented himself from the start as a messianic, “transformational” leader — and thus played deceitfully with ideas that belong to religion and not politics. That he has done this so successfully is a mark of the degree to which the U.S. itself, like the rest of the western world, has lost its purchase on the Christian religion. Powerful religious impulses have been spilt, secularized.

In this climate, people tend to be maniacally opposed to the sin to which they are not tempted: to giving Christ control over the things that are Caesar’s. But they are blind to the sin to which they are hugely tempted: giving Caesar control over the things that are Christ’s.

“Faith, hope, and charity” are Christ’s things. They apply, properly, outside time — to a “futurity” that is not of this world. They must not be applied to any earthly utopia. A Caesar who appropriates otherworldly virtues, is riding upon very dangerous illusions. Follow him into dreamland, and you’ll be lucky to wake up.


Sarah Palin, Average Americans, Intellectualism, and Elitism

Following up on our thread of a couple of weeks ago (here, here, here, and here) about whether the ascendancy of Governor Sarah Palin to the vice presidential nomination reflects an anti-intellectual trend in the Republican Party, readers might check out an editorial in the Boston Globe by Joan Chevalier. Although she writes from the political left, she nonetheless warns against the liberal bias and disdain for non-urban voters that are inherent in the anti-Palin rhetoric. Herewith an excerpt:

[I]n every one of my encounters with America’s rural communities, the diversity of my privileged experience was eclipsed by the depth of theirs. I had rhetoric; they had well-measured speech, punctuated by forbearing silences. I had easy answers; they knew there was no such thing.

It is not that the Republican base is anti-intellectual, as David Broder claims; they are anti-elitist. An Ivy League education is hardly a universal signal of competence in anything other than the liberal cultural canon.


Greg Sisk

Thursday, October 23, 2008

On Mandatory Minimum Criminal Sentences, Senator Obama Gets It Right

The CNN political ticker reports today that the Republican National Committee is sending out automated telephone calls in battleground states, in which Rudy Giuliani says, “I’m calling for John McCain and the Republican National Committee, because you need to know that Barack Obama opposes mandatory prison sentences for sex offenders, drug dealers, and murderers. It’s true, I read Obama’s words myself.”

As CNN then reports, Senator Obama does not actually advocate lighter sentences or repeal of minimum sentences for violent criminals, but does question mandatory minimum sentences for drug offenders. While Senator Obama in 2003 made a vague statement in favor of abolishing mandatory minimum sentences—without any references to sex offenders or murderers—he explained his position clearly in 2004:

I think it’s time we also took a hard look at the wisdom of locking up some first-time, non-violent drug users for decades. Someone once said that ‘…long minimum sentences for first-time users may not be the best way to occupy jail space and-or heal people from their disease.’ That someone was George W. Bush—six years ago. I don’t say this very often, but I agree with the president. The difference is, he hasn’t done anything about it.

Senator Obama is rightly recognizes that our society is suffering from its unwise and cruel policy of imposing lengthy minimum sentences on non-violent and low-level drug offenders. And Senator Obama is quite right that the Bush Administration, to its shame, has done little or nothing to change the situation, instead falling back into the same old, unthinking approach of promoting rigid and harsh sentences without full consideration of the nature of the offense or the offender. As I’ve written on the Mirror of Justice in the past, “[t]oo often, and especially at the federal level at least from Washington, D.C., the policy has sometimes appeared to be that every case referred by law enforcement should be prosecuted and every conviction should be emphasized by seeking the maximum sentence.”

My colleague here at the University of St. Thomas School of Law, Nekima Levy-Pounds, has focused her scholarship on this subject, emphasizing that current drug-sentencing practices disparately impact poor women of color and children. As she reports, excessive incarceration of African-American women who had a peripheral role in drug offenses wreak havoc on the family and leave children parentless, setting the stage for the next generation of offenders and another cycle of incarceration. You can read two of her articles on the subject here and here, with another work in progress that will be submitted for publication soon.

The scourge of mandatory minimum sentences for minor offenders can be traced back to precisely the sort of political tactics that areevidenced by Giuliani’s phone message against Obama. Politicians tout mandatory minimum sentences to flex their political muscles and promote themselves with constituents as tough on crime, while politicians who have the courage to challenge mandatory minimum sentences are attacked as weak on crime.

When it comes to highlighting Senator Obama’s appalling and dangerous positions on the sanctity of human life, readers at Mirror of Justice know that I have pulled no punches. But when it comes to criminal justice, Senator Obama’s thoughtful reconsideration of mandatory minimum sentences deserves to be lauded. For what I hope will not be the last time, I say, right on Barack Obama.

Greg Sisk

Sunday, October 19, 2008

Intrinsic Evil, Moral Perspectives, and Cultural Messages: A Catholic Layman's Response to Professor Kaveny

In her America article, Professor Cathleen Kaveny argues that characterization of a particular matter as representing an intrinsic evil offers little assistance to faithful Catholic voters in evaluating the positions of political candidates on such issues as abortion. Once the concept of intrinsic evil is properly understood as a technical theological term focused upon the objectively disordered nature of the act, Professor Kaveny explains that classifying an act as intrinsically evil tells us little about the magnitude of that evil. (Our Mirror of Justice colleague, Michael Perry, has posted excerpts of her article here. Peter Nixon had previously made similar remarks on the Commonweal site.) At the end of her America article, Professor Kaveny concludes: “For many pro-life Catholics, the issue of voting and abortion comes down to this: what does one do if one thinks that the candidate more likely to reduce the actual incidence of abortion is also the one more committed to keeping it legal? The language of intrinsic evil does not help us here.”

Professor Kaveny’s article is interesting and thought-provoking as a dissertation on the theological origins of the concept of intrinsic evil and how to think critically about the comparative wrongness of immoral acts. I appreciate her contribution to our better understanding of Catholic moral teaching. I take to heart her encouragement of more careful use of terms in debate about matters of public moment from the perspective of Catholic teaching. Nonetheless, I did not find Professor Kaveny’s article to be directly responsive to the arguments of Church leaders and other prominent Catholics about the public policy implications of the Church’s consistent and emphatic teaching about the human rights of the unborn. Moreover, even taking the article on its own terms and adhering to a technical understanding, I suggest the full import of the concept of intrinsic evil in public discourse may warrant further development when we encounter political platforms and candidates who re-define acts of evil as a matter of free choice and a constitutional right.

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Saturday, October 18, 2008

Update: Education Policy and the Presidential Campaign

In a previous post, I discussed at some length the question of eduational policy and reform, which I described as the most neglected issue in the current presidential campaign. And yet access to quality education is vital as a powerful engine for economic progress, especially among the poor, and probably ranks as the government benefit of greatest importance to most American families.

In the last presidential debate, we heard more than previously on education from the candidates in their most prominent appearances before the American public. As the Chronicle of Higher Education says, “[i]n the last question in the last of three presidential debates, John McCain and Barack Obama fielded their first, and only, question in these forums that focused squarely on education policy.” (A full transcript of the third and last debate may be found here; you can scroll to the end for the education discussion.) In general, the candidates’ remarks fit comfortably into the categories that I had outlined in my earlier post.

Despite portraying himself as the candidate of change, Senator Obama largely adhered to longstanding liberal preferences and to the platform of the teachers’ unions by offering to spend more federal money on education. Although he said in passing that both more money and reform were needed, he proceeded to ignore reform and speak only about spending programs, such as for expanded pre-kindergarten programs and increased pay to teachers. Obama seemed not to appreciate the irony of his litany of spending proposals in light of the question that had been posed by moderator Bob Schieffer. Schieffer had highlighted that the United States already spends more money per capita on education than any other nation, but with much less in educational achievement to show for it.

Senator Obama concluded his initial remarks on education by urging parents to take greater responsibility by turning off the television and taking away video games and working to “instill[] that thirst for knowledge that our students need.” Obama did not, however, offer any hope or choice for those kids “thirsting for knowledge” who arrive at failing public schools in places like the District of Columbia or Cleveland, where record-setting public funding rates has led to little improvement in the quality of public education.

Senator McCain then characterized education as the “civil rights issue of the 21st century.” Lauding the achievements of the civil rights struggle for “equal access to schools in America,” McCain then asked the pertinent question for today: “But what is the advantage in a low income area of sending a child to a failed school and that being your only choice?” More pointedly and personally, McCain argued that “we have to be able to give parents the same choice, frankly, that Sen. Obama and Mrs. Obama had and Cindy and I had to send our kids to the school—their kids to the school of their choice.”

In response, Senator Obama pointed to charter schools and said that he agrees it is “important to foster competition inside the public schools” (emphasis added). However, returning to his strong opposition to vouchers for poor families who wish to choose private educational opportunities, Obama said that he disagreed with McCain “on the idea that we can somehow give out vouchers—give vouchers as a way of securing the problems in our education system.”

The two candidates sparred over their contrasting positions on the current voucher program for the District of Columbia school system, which is the only public school system that falls directly under federal control. Senator McCain touted his support for that program, noting that 9,000 families had applied for only 1,000 vouchers and arguing that choice opportunities should be increased. Senator Obama insisted that the data doesn’t support vouchers as the answer and noted that a program for vouchers in the District of Columbia doesn’t address educational policy in the remaining 50 states. As the moderator sought to cut off the discussion, McCain tried to insert a rebuttal that the D.C. voucher program was working as well as could be expected but that the number of vouchers allowed remained too small to offer meaningful alternatives to failing schools in the district.

Earlier, Senator Obama had also addressed the question of the federal role in education. While saying that “we have a tradition of local control of the schools and that's a tradition that has served us well,” he nonetheless insisted “that it is important for the federal government to step up and help local school districts do some of the things they need to do.” He criticized the “No Child Left Behind” program for imposing burdens on local schools without providing greater federal funding to assist in meeting those higher standards. Interestingly, when referring critically to the problem of “unfunded mandates,” Senator Obama’s solution was not to reduce federal mandates but rather to increase federal spending to support such mandates. As an example he spoke about what “happened with special education where we did the right thing by saying every school should provide education to kids with special needs, but we never followed through on the promise of funding, and that left local school districts very cash-strapped.” Thus, Obama is favorably disposed to federal regulation of education, within limits, provided that increased federal spending accompanies that regulation.

As had been much anticipated, the controversial subject of Senator Obama’s past associations with radical and former domestic terrorist Bill Ayers was raised during the debate. But overlooked was the specific educational character of some of the foundation work on which Obama and Ayers participated together and what those educational initiatives might reveal about Obama’s attitude toward and competence of his approach to education.

As discussed in my earlier post, Obama’s only prior executive experience—and one of the few matters of substance on which he has an actual record in public service—consists of his prominent role as the leader of the Chicago Annenberg Challenge in the 1990s. This was a well-funded effort, supported by the political and social establishment in Chicago, to bring about reform and improvement in public education. The picture that emerges from the Chicago Annenberg Challenge is not a pretty one. Even acknowledging that many mainstream projects were included within this well-funded program, Obama nonetheless also agreed to subordinate some substantive math and science educational proposals in favor of diverting funding to Ayers’s questionable initiatives to politicize public education and radicalize public school children. More importantly, the overall effort was a depressing failure. As reported by a comprehensize evaluation of the program (here), after spending $100 million on public school enhancement, the Obama-chaired Chicago Annenberg Challenge failed to bring about any significant progress on student educational achievement, student academic engagement, or student social competence.

Despite this disastrous and textbook example of the futility of simply throwing money at public education, while tracking the nostrums of the liberal education establishment, Obama’s present educational proposals as a candidate suggest that he learned nothing of substance from this sobering experience. Under an Obama Administration, the future of educational quality and equal access does not look bright.

Greg Sisk

Sunday, October 12, 2008

Education: One of the Most Important, and Most Neglected, Isues in This Presidential Campaign

In recent weeks and months, we have returned regularly to prudential questions about government programs and government spending, as well as private and religious initiatives and alternatives, and their value and efficacy in creating the conditions for human thriving. On the Mirror of Justice, our debates about such policies are further influenced by Catholic social teaching about the preferential option for the poor.

Within the vast and ever-increasing range of government projects and spending programs at all levels of government, the single most important government public service has to be access to a quality education. For most American families, government provides no benefit that is more direct (in terms of prominent role in their lives) or more substantial (in terms of financial value) than a free education for their children. For the disadvantaged, no conceivable government program offers greater promise for moving upward on the economic ladder than assuring educational opportunities.

While a college degree may be the tool to reach the highest rungs of the economic ladder, a high school diploma is the ticket out of poverty. In its 2007 “Profile of the Working Poor” (here), the Bureau of Labor Statistics using 2005 data found that the adults who did not graduate from high school were much more likely to fall among the working poor (more than 14 percent), as contrasted with those who obtained a high school diploma (6.6 percent). Among African-Americans, the working poverty is higher at each level of educational achievement, but even here the poverty rate for those with a high school degree and no college education is half that of those who did not complete high school.

Catholics have long had a particular interest in education. The original universities were created by the Catholic Church. Catholic elementary, secondary, and higher education have been central to the Catholic experience in America for centuries. And Catholics always have sought to integrate the highest of academic standards with faith, so that families do not have to choose between ensuring a quality education and moral formation for their children. Thus, broader opportunities and educational choice are central to the Catholic vision of education. So education ought to be central to our policy discussions on the Mirror of Justice.

And yet, during this presidential campaign season, educational policy has been a largely neglected subject (see here):

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Tuesday, October 7, 2008

The Common-Sense Antitode to Intellectual Elite Hubris in Politics

When I began exploring the Catholic Church more than a decade ago and was moving toward Rome as my spiritual home, one of the things that emerged as a small but persistent obstacle for me was the Church’s canonization of people whose behavior was, well, downright weird. I looked with discomfort, even dismay, at the veneration of a man who had lived on top of a pillar for decades, or a woman who had lived as a desert hermit in extreme ascetism, or a man who had whipped his back raw to ward off the sins of the flesh. How could these strange actions be seen as useful examples to the faithful, as instructive stories of great men and women held up as saints of the Church? The monsignor who led me into the Church well explained these behaviors to me as emphatic rejections of the corrupt and unbalanced societies in which they lived. Almost ironically, their prominent and startling behavior served as prophetic calls, not to the extreme, but toward healthy balance. When society has departed from the path to the good life or culture has become perverted, men and women who exemplify the opposite can be an essential antidote.

We live in a time in which far too many among the elites in academia, the legal profession, media, the entertainment industry, and government have abandoned the fundamental values upon which a healthy society is founded and have elevated themselves as superior not only in learning but in character to ordinary Americans. Rather than serving the people and being grounded in society, a detached form of intellectualism has emerged, disconnected from the real world of communities bound by shared moral values, economic markets, and neighborhood life. As we have seen during this campaign year, some of these elites look with disdain at ordinary working people, especially those who live outside of urban centers, as the unwashed and “bitter” masses who “cling to their guns and religion.” Those who are not centered in the professional enclaves of the Left or Right Coast are ridiculed as the unfortunate and ignorant denizens of “fly-over country.” Highly-educated academics and lawyers employ intellectual rationalization to justify the killing of unborn children and to embrace the Culture of Death as a constitutional good. Sexual experimentation by teenagers is downplayed by our social superiors as harmless fun (if undertaken with a condom of course) and, in any event, inevitable, while any attempt to promote sexual responsibility or suggest moral implications is demeaned as unrealistic and prudish. The experts in our colleges of education and the bosses in the teacher’s unions see the public schools as the laboratory for political consciousness-raising, while sneering at those who promote teaching the fundamentals.

Never having built anything, created anything, or grown anything, many of the elites in this intellectual class devote their entire careers to pursuing political or academic influence and prominence, not to advance principles of lasting importance but primarily to advance themselves. Being quoted in the New York Times or publishing a book with a university press is the coin of the realm. The things of the mind that are lasting and that are grounded in the higher things are impatiently pushed aside. Due to their supposed intellectual and cultural superiority, many intellectual elites regard themselves as holding an entitlement to govern, to use the power of government to remold society in their own graduate-school image, to capture the resources of society through taxes to be redistributed according to expert prescriptions for the Great Society, and to impose regulations so that everyone marches to the beat of their college-educated drums.

In such times as these, what a breath of fresh air it is to see a Hockey Mom from Alaska who has not spent her lifetime in political social climbing, who did not devote her youth to writing her memoirs and giving speeches, who knows what it means to run a business and to live day-to-day on the fruits of the family’s labor, who has volunteered for the parent-teacher association, and who has devoted her time in public service to the practical concerns of citizens on such matters as zoning rules, public services, energy production, tax reduction, etc. Although it only appears extreme by comparison with the hot-house intellectualism and government-centric expertise of the chattering class, Sarah Palin’s simple common-sense and uncomplicated approach to political matters is an antidote to those who would impose the tyranny of the expert. She stands as a reminder that the vital strength and moral foundation of America does not lie on Wall Street or in Hollywood or in Washington, D.C. –- or even in the college towns that dot the country (as much as we in higher education do add to our society). Instead, the Salt of the Earth kind of folk who have always made the sacrifices, worked the jobs, fought the wars, and lived the lives that keep this country going are still to be found in cities and towns, large and small, where you will see them at the neighborhood picnic, the school board meeting, the soccer game, and the church coffee hour. To paraphrase Sarah Palin, bless their hearts!

Greg Sisk

Thursday, October 2, 2008

The Obama Children's Choir Video and the Danger of Displacement of Religion With Politics

There’s been a lot of buzz on the cable news stations and the internet about a video of choir of children being led in the singing of an original song praising Obama and built on his campaign themes. Although some commentators have found the video to be cute or at least innocuous, most of the bloggers and accompanying comments have characterized it as creepy or even sinister. Once it became controversial, the Obama campaign apparently removed it from its campaign web site and YouTube. But the video has been reposted by others (after all, nothing ever truly disappears once it is up on the internet). You can judge for yourself below (assuming it hasn’t yet disappeared), if you are one of the few not yet to have seen it:

(If the video has disappeared, you can try looking here to find another copy of it.)

Some of my colleagues around the country with an historical sensitivity saw parallels to cult of personality behavior surrounding political leaders past and present of an authoritarian bent. Sharing the same perspective, commentary on the internet has often juxtaposed the Obama children’s choir video with excerpts from the film, Cabaret, in which a group of Hitler Youth sing “Tomorrow Belongs to Me,” or with a vignette of a children’s choir singing songs of adoration to Korean dictator Kim Jong Il as the “Dear Leader.” Now to the extent that anyone is suggesting that Obama is an aspiring dictator, much less that his political views are as reprehensible as these other examples, such a comparison is grossly unfair. (Nor do I think the accusations of brainwashing of children are telling here, as if the children of conservatives do not tend to adopt the perspectives of their parents as well.)

More legitimately and fairly, most of the critique suggests that the Obama campaign’s mistake in this episode lies in its tone deafness to such disturbing historical parallels, as well as reinforcement of the impression that the Obama campaign is focused primarily on personality and fails to discourage the messianic flavor of some aspects of its campaign (for more on that see here). Both impressions should have been apparent to any objective observer of the performance. Nor can the promoters of the Obama children’s choir video be excused as ignorantly exuberant. The video apparently was created by Obama’s wealthy supporters among the Hollywood entertainment industry (here). Of all people, those working in the film industry should have known better. (While the video was not produced directly by the Obama campaign, it was created by leading supporters and was, until yesterday, prominently displayed on the Obama campaign web site.)

My immediate reaction to the Obama children’s choir was a little different. When I first saw the video, it brought to my mind a religious gathering, with children singing at worship in an evangelical church or Bible camp. (Although we are Catholic and my daughter attends Catholic school, she often goes to evangelical day and week camps, where she has loved the worship, Bible study, and prayer time and comes home spiritually energized.) The parallels are almost exact: A group of children wearing identical t-shirts with a designer icon; bright and shiny young faces; an inspirational song about spreading the word, lifting up our hearts, and changing the world; choreographed hand motions, and even the ubiquitous, if often annoying, overly-enthusiastic choir director making exaggerated gestures. Of course, the crucial difference is that the devotional songs lifted up by children at an evangelical church or Bible camp are directed to our Lord and Savior – not to a political figure or political campaign.

In contrast with or addition to the other critiques being sounded, I suggest the real lesson to be drawn from this episode is a reminder to all of us, of whatever political leanings, not to allow politics to be elevated into the place of religion in our lives. Watching this video closely, including observing the presence and reaction of the parents in the audience, the viewer wonders whether this performance is the equivalent of a religious ceremony for these families (and it reportedly was filmed and recorded by Hollywood producers on a Sunday morning). Attendance at and involvement in a church or synagogue appears to have been displaced by political devotionals. Placing a political cause in such a central place is a dangerous temptation for many of us. (Now I'm not suggesting that any of us on the Mirror of Justice would be tempted to sing adoration to a political leader, but rather I know how easy it is to displace religious duties and relationships with political or professional ones).

For those of us who take a greater than ordinary interest in public, legal, and political affairs, we are constantly at the risk of losing a sense of priority, of devoting too much attention to temporal matters and placing faith in human institutions or movements or laws, while forgetting the higher things. Yes, I do think this danger is greater for those on the liberal side of the political spectrum, precisely because their political views are so heavily centered on government as a provider and on the employment of politics to achieve social justice. But politically-active conservatives are hardly immune, as we too can begin to believe that politics matters more than anything else, that patriotism trumps all else, and that the world really can be changed by a political movement rather than by a revolution of hearts.

In my published writing and previously on this blog, I have quoted a powerful reminder of priorities by Richard John Neuhaus, but it bears repeating:

Whether the political dimension is major or minor in our vocations, we will all do our work much better if we understand that we are not doing the most important thing in the world. It may be the most important thing for us to do because it is what we believe we are called to do, but not because it is the most important thing in the world. (Richard John Neuhaus, America Against Itself: Moral Vision and the Public Order 23 (1992).)

Greg Sisk


Wednesday, October 1, 2008

Financial Crisis Revisionism: A Contrast in the Record

A video making the rounds on the internet of excerpts from a 2004 hearing before the House subcommittee on capital markets offers an interesting contrast to the conventional wisdom now taking hold about the cause and the blame for the current financial crisis. (The video is an advocacy piece and the captions are over-the-top, but the hearing excerpts show the actual words of the participants; for a New York Times article on the same hearing, see here)

The emerging historical revisionism is that our current credit crisis was caused by lax regulation generally of financial markets and should be followed by a new era of greater and broader regulation (i.e., more government). But the answer instead may lie in a surgical and nuanced regulatory initiative targeted toward governmentally-sponsored interventions into those credit markets (such as with Fannie Mae and Freddie Mac).

Likewise, while the popular myth is that conservative Republicans set the stage for this crisis by opposing regulation and putting too much faith in unbridled capitalism, the House hearing excerpted on this video featured repeated calls by Republicans for more regulation of Fannie Mae and Freddie Mac including better accounting rules and greater capital holdings, while Democrats vociferously opposed any such regulation, denied any financial security dangers with Fannie Mae and Freddie Mac, promised that housing loans have no risks, and characterized greater regulation of the credit market as likely to impair the ability of those in poor and minority communities to obtain easier credit and buy houses. Not exactly the perspectives that are presently being attributed to the political actors in the mainstream media now that the crisis has broken.

Now the $64,000 question is whether we will see a misguided reaction to this problem that increases government control and regulation of the economy generally, moving the United States toward a European style economy with perpetually low growth and high unemployment. Or instead will wiser heads prevail so that we might fix the real problem with targeted regulation and government oversight that does not try to plan the economy or burden the economy with excessive costs and taxes. I’m betting on the former reaction, but maybe I am just becoming too pessimistic about the “Change” that’s coming.

Greg Sisk