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At National Review, Larry Kudlow interviews Dick Cheney, who spends much of the extremely friendly discussion distancing himself from the Bush Administration’s TARP bailouts. “Well, some of us at the time wanted GM to go bankrupt, go to Chapter 11,” says the former Vice-President, though through no fault of his own the automaker wound up with billions of dollars instead. Also, he swears he never anticipated that the government would step in, as Obama has, to regulate in any way the companies that received its largesse — “I don’t recall any debate within the administration” — though he admits “there may have been some over at Treasury or someplace that focused on the extent of which government would try to control these institutions once they provided financing for them.” He added that he was against Nixon’s wage and price controls when he served in that Administration. He also offered Obama advice on foreign policy, including “work with the Chinese,” which the Administration is already doing. Basically, Cheney doesn’t want to be remembered for any of the Bush Administration’s unpopular financial policies — just the war and torturing.
Photo (cc) World Economic Forum.