[SirJohnBarleycorn]

I’m sorry, but this article makes far too much sense to be posted in the current environment of know-nothing “anti-greed” class warfare on FR. It must be removed immediately.

The author did lose me a bit at the end - I fully understand the moral hazard principle but if we don’t first save our financial system in the immediate circumstances there will be no opportunity to return it to a more free market functioning, and otherwise we will soon be able to renew our drivers’ licenses, mail a package and make deposits and withdrawals from our bank accounts at the same convenient government location.

[sarasmom]

Exactly!

[penelopesire]

“Come to think of it, that’s precisely what Ayn Rand warned about. Discredited? I would say she has been vindicated.”

Excellent article!! I have been feeling like America was suddenly living in ‘Atlas Shrugged’ for weeks now!! Thank you so much for posting this!!

[Tublecane]

How come we never credit “greed” during booms? It doesn’t seem fair that greed gets all the blame and no praise.

[FlyVet]

I, FlyVet, a dumbass redneck who bitterly clings to his guns and religion, can make it real simple for the ivy league geniuses.

I can qualify for a half-dozen Titanium Charge Cards, max them all out, and live like the millionaire next door...for a time.

But sooner or later, the bills are due. And then it's not so fun.

[smokingfrog]

bttt
The govt. created the problem through do-good programs, so now we are supposed to trust them to fix it? They were able to minimize (hide?) the problem for a while with derivitives and mortgage-backed securities, but those days are over.

[Tempest]

I thought CRA was enacted in 1977 not the the 90. Either way the article seems factually challenged.