Conversation | 11/10/2008 4:00 am
Marlo Thomas: Human Nature Needs to Be Regulated

Is there a silver lining to this economic meltdown?
JANE: You know, I believe it will make us ready for change and make us get behind the changes that are going to be necessary. Hopefully they’ll be the right ones. We almost need a Roosevelt kind of New Deal. And I don’t think that would happen just out of the blue. I think it has to happen almost in a moment of crisis.
JOAN: Well, I think that it’s mixed because I think this country would be much more willing to take seriously energy conservation and global warming and the deficits that are, long term, really serious — a deficit of trillions and trillions of dollars and the reform of the entitlements that are going to be totally out of hand. I think you could talk more about those if the country were in good shape. I don’t think anyone who has no job and whose house is threatened is interested in hearing about sacrifice.
JANE: Oh, I see.
JOAN: So I think it’s a mixed blessing. I like the kind of cleaning the system out because we know it’s been way over the top for the rich. But the question is, will the country really be better off long term because of it? That remains to be seen.
MARLO: One of the things that fascinated me was when Greenspan spoke the other day and he said that he made a mistake. He thought that the banks would regulate themselves.
JANE: Well, this has always been his free-market kind of approach.
MARLO: I was so appalled with what he said. I thought, “My God, this man …”
JANE: I know.
MARLO: I thought he was better than that.
JANE: Childlike, wasn’t he?
MARLO: Really. “I thought they’d regulate themselves.” Oh, really?
JANE: Well, we shouldn’t respect people who are really that much influenced by Ayn Rand anyway. And I don’t know whether you’ve read The Shock Doctrine,
but she talks about Milton Friedman and the free-market kind of approach to everything. The deregulation that’s been going on. I hope the Democrats won’t do too much on the other side, either. I hope it will be measured.
JOAN: How about the role of women in this crisis? That women should have been, could be and now might get into our economy and change the rules somehow? Who was that woman that was in the Clinton administration? She was very cautious but so was the whole Clinton administration. People … Reuben, Summers and this woman whose name I can’t think of. But the women who are on Wall Street and in the banks are so few that if they don’t go along with the guys they have no career. And I think it is the guys, basically with their testosterone of throwing the dice, throwing the dice and always thinking they’re going to come up snake eyes. But I just know from being close to that world through my husband that, boy, the woman better be more manly than the men if she wants to be taken seriously in her career. So you’d have to have an awful lot of women come in who might introduce more caution.
JANE: Well, who’s to say they’ll be better? Ergo, you know, Ayn Rand herself.























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