Treasury Secretary Henry Paulson says there should be no controls for soaring food prices.

According to the AP, "World Bank President Robert Zoellick warned earlier this month that soaring food and energy prices were a serious concern that threatened to foster social unrest in an estimated 33 countries."

But Paulson stated, "Governments, however, need to resist the temptation of price controls and consumption subsidies that are methods of protecting vulnerable groups," he said."

Chris over at AmericaBlog hits the bullseye with this, "Weeks after artificially propping up his former Wall Street friends with billions upon billions he has the nerve to tell others that food price controls only make the matter worse. Well Mr Wall Street, how fair is it to poor people across the world that never are able to join the economic boom periods and are trying to feed their families? Explain to everyone how this all works because this pontificating about his precious little "free market" that's never even close to a free market is rings hollow to everyone else. So when we give special tax rates to hedge fund traders and other Wall Street special interests, aren't we promoting the same "economic distortions" that he talks about?"

Right on, Chris! 

Paulson is just another Bushite hypocrite.

Chris also reminds readers today that oil has hit a new high, "What's that? Oil hit $112.48 and we're now looking for the next support level at $115? Won't the strong dollar help? Nevermind."

Oil companies received government subsidies and tax breaks under a Bush rubber stamp Republican controlled Congress when these companies were making record profits. Finally, they are targeted for repeal, four years later under a Democratic controlled Congress.

Life in Bushland.