E
Eeyore
Guest
Eric wrote:
It was taking the hand off the tiller that caused this mess.
Graham
You mean relaxation of banking practices, not interference.a7yvm109gf5d1@netzero.com wrote:
On Oct 13, 2:39 am, Eeyore <rabbitsfriendsandrelati...@hotmail.com
wrote:
"No more Ferraris: we are the masters now"
This is a momentous day in the history of capitalism, as governments the
world over prepare to take huge stakes in the hitherto independent banks
that have driven the West's economic success.
For believers in free markets, the bailout is nothing short of a
calamity. But when the only alternative appears to be the meltdown of
our entire financial system, economic survival is all that matters.
So, a global meltdown is your definition of success of independent
banks?
It was the government's interference in banking practices that caused
the failures in the first place. More interference is not a good thing.
It was taking the hand off the tiller that caused this mess.
Graham