Thursday, October 23, 2008

How Capitalism will Save Us.

Good stuff at Forbes.

What started in August 2007 was not the failure of free markets but the outcome of bad government actions. Greed and recklessness always run rampant during bubbles, and the mania that engulfed housing and much of the financial sector was no exception. The behavior of mortgage bankers and of Wall Street packagers of subprime mortgages, as well as the excesses and misuses of exotic instruments, will be grist for investigators and writers for decades to come. But all this came about because of government errors--regulatory and monetary.

1 Comments:

Blogger J said...

Here Here!

12 November, 2008 12:17  

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