If an activity is important enough to justify a government nationalization to prevent a default, it is important enough to be regulated. The regulators need to know what risks are being taken, and by which institutions, in time to act before a crisis develops.I have forgotten where I found the link to this article, and when I pulled it up just now I had to register at their website. Wanted to know what I do for a living. Did NOT have a spot for unemployed.
Saturday, September 20, 2008
Free Market Leads to ... what?
Socialism? Communism? Floyd Norris at the New York Times has something to say about this last week's disaster: