Sunday, September 21, 2008

Amusing Pair of Sentences on the Unfolding Financial Crisis I Have Read Today

--- From Gary Becker

Despite my deep concerns about having so much greater government control over financial transactions, I have reluctantly concluded that substantial intervention was justified to avoid a major short-term collapse of the financial system that could push the world economy into a major depression.

--- From Richard Posner

In effect, the government's power to repair the crisis that Wall Street created has been delegated to Wall Street.

More here.

No comments: