Pro-State trolls are always eager to place the blame for economic problems somewhere other than the State.
Bernard Madoff ran a corrupt hedge fund. He's an isolated instance of severe corruption.
We need $700B to bail out the financial industry.
The US financial industry is sound. There is no need to panic.
Who would have guessed that the housing bubble would collapse like that?
Enron and Worldcom were one big fraud. Sarbanes-Oxley will prevent a massive fraud from happening again.
Who would have guessed that the stock market .com bubble would collapse like that?
Long Term Capital Management nearly wrecked the financial system. We won't let that happen again!
Who could have predicted the stock market crash in 1987? We changed the rules regarding program trading, and there never should be a severe crash again.
The '80s S&L crisis was solved by the invention of the Collateralized Debt Obligation (CDO). We will never again have a serious problem with banks and mortgages.
We need $160B to bail out banks after the S&L crisis.
I would extend this further back, but you should be able to see the pattern by now.
Saturday, March 14, 2009
A History of Successful Economic Intervention
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1 comment:
Gee wizz,, Good thing we have the state to keep our lives interesting. If it wasn't for them we just might be prospering...Good thing they are there to increase the level of difficulty . life might just be to easy for us to make it exciting.
Fricken party poopen state!!!!
Fritz
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