For former Malaysian Prime Minister Mahathir Mohamad, who flew in the face of world opinion in imposing capital controls to ride out the financial crisis 11 years ago, the current credit crisis provided a chance for yet another swipe at Washington. “I remember how well we were told never to bail out failing companies,” he wrote in his blog (www.chedet.com) this week. “But in the last one year the Fed has bailed out dozens of failing banks, mortgage corporations and other businesses,” the 84-year-old mused.
Sometimes the trustees of the country club will wave the tab of certain members. Others are expected to pay for their own drinks, of course.