The death of ideology

“I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms.” --Alan Greenspan

Given that this comes from Alan Greenspan, whose free market opinions have guided this country for much of his career, this is a pretty profound statement. That he in effect says, "I was wrong" on such a momentous issue must receive great credibility.

It's to be expected that the knee jerk free market ideological right will quickly distance themselves from Greenspan. Greenspan, in his remarks exemplifies the notion that all ideologies become flawed at some point.

It's time to stop the ideological rhetoric and start looking carefully at factual data. There is a wealth of evidence for what works, if we are willing to look beyond our own borders. Let's begin now.