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Tag Archive 'financial crisis'

I’ve just finished reading Joe Stiglitz’s account of the financial crisis. ┬áIn it he makes the following comment: Competition, in this case, had a perverse effect: It caused a race to the bottom — a race to provide ratings that were most favorable to those being rated. Ughh. I guess being a Nobel Prize winner […]

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Small Dose of Perspective

During the last business cycle (the recession was in March-Nov 2001), total non-farm private employment fell from a peak of 111.681 million in December 2000 to a trough of 108.231 million in July 2003.

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Professor Steve Horwitz writes: The current mess is thus clearly shot through and through with government meddling with free markets, from the Fed-provided fuel to the CRA and land-use regulations to Fannie and Freddie creating an artificial market for risky mortgages in order to meet Congress’s demands for more home-ownership opportunities for low-income families. Thanks […]

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What They Said

In case you want my views on this bailout plan, it is a weighted average of the views in this Reason forum … with Professor Munger’s getting the heaviest weighting.

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If You Wish To Hear Even More …

about the current financial crisis and bailout plan, you can hear me on Wisconsin Public Radio with Ben Merens. It is a bit long (an hour). My favorite question on the Paulson Plan … “Where Do They Get that $700 Billion Number From?” I actually have not seen a reasonable explanation for where it, in […]

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Take a Number

This is getting funny. As if the mortgage bailout plan wasn’t ridiculous enough, everyone and their brother is now coming to Uncle Hank and Uncle Ben for a little help. You know, for a vital national interest.

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