Tuesday, October 28, 2008

 

I Told You Greenspan's "Admission" Was Fatal

Reader Bob Roddis alerted me to this annoying cartoon. All I can say is, I told you so.


# posted by Bob Murphy @ 1:02 PM


Comments:
Is your point that greenspan's admission is resulting in a fatal criticism of the free market? To me the cartoon is misleading because the Federal Reserve's actions were not de-regulation but a form of regulation that was in the best interest of short term greed.
# posted by Blogger Scott Raridon : October 28, 2008 at 1:55 PM
 
My point is, there is no way fans of the free market are going to convince the average Joe that this was the fault of government, now that "leading free market believer Alan Greenspan" admits that he was wrong to trust markets so much.
# posted by Blogger Bob Murphy : October 28, 2008 at 2:51 PM
 
The "deregulation" should be changed to Fannie and Freddie.

The "Wall Street Greed" should be changed to "Coercively Low Interest Rates"
# posted by Blogger Rui Yu : October 28, 2008 at 5:45 PM
 
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