AIG And Its Aftermath
Just when I thought that the age of bailouts had come to an end with the Treasury and Fed agreeing to let Lehman bite the dust for its various poor investment decisions, I am confronted with the Treasury and Fed deciding to bail out AIG. Needless to say, this is appalling. The Fannie Mae and Freddie Mac nationalizations were explained away with the argument that | Read More »
To wit. This point needs to be made over and over and over again. See also this and this which relate the the issues covered in the Cafe Hayek posting.
Quotes That Catch My Fancy
. . . economic downturns do offer the motivated reporter an opportunity to speculate on the possible political consequences of unflagging public and media ignorance. The causes for our current economic troubles are evidently too complex to fathom, so instead of writing intelligibly about what is actually happening and why, we are asked to wonder (hope? fear?) whether voters can be made to demand a | Read More »