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links for 2010-05-26

Why It Would Be Good for America If the Republican Party Simply Closed Up Shop Today

Via Ben Armbruster:

NEWT GINGRICH: I said at that time that I thought Henry Paulson should not have been Treasury Secretary. I thought it was totally wrong for the former chairman of Goldman Sachs to be funneling billions of dollars from the taxpayers to Goldman Sachs. And I have said over and over, you can’t have capitalism on the way up and socialism on the way down because you get socialism both ways...


NEWT GINGRICH: I think that [George W. Bush] was very sincere in his desire to protect America. I think he was very sincere in his basic conservative social values. I think he began his Administration with a real commitment on lower taxes and more economic growth, precisely in the Reagan model. And I think that late in his Administration that he was frankly worn down by the bureaucracies in Washington.... And then I think when the crisis hit in the fall of 2008 everybody panicked. Candidly, there was a period there when you had the Federal Reserve chairman and the Secretary of the Treasury saying, “If we don’t do X, Y and Z, the entire world economy is going to collapse.” That’s pretty good grounds for stopping and trying to do something. It’s easy for people to say, “Well, I’d rather have risked a world depression.” But most of the people I talked to in the private sector at the time were really worried about the system freezing up totally...

The noteworthy thing is that Gingrich says these contradictory things on the same day, and he says them in the same interview.