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.
Err..you lost me there.
This article lays out the case convincingly that it was BIG GOVERNMENT and not big Wall Street, or Big Business, or "Big Flippers" that is to blame as far too many on FR seem to believe.
Ahh yes, because free markets depend on governemnt bailouts to thrive...
FYI - Class warfare is when the mega corporations threaten to destroy the economy unless they get their ransom money.