Krugman comments on the Obama administration’s new found love of all things free-market (to bolster Geitner’s plan), even given some recent and some would say serious (!) evidence to the contrary. He notes relative to the Geitner plan:
… administration officials tout the virtues of markets in general, and say, hey, this creates a market, so it must be good.
It’s a bit disappointing to see the Obama administration engaging in this sort of market-worship — hailing markets as a Good Thing in themselves, rather than as an often but not always useful means to an end. But I have reason to think that unlike the Bushies, they don’t really believe it; it’s just politics. Which is actually better than having genuine market fanatics running things, I guess.