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Archive of posts published in the tag: Financial Fiasco

Crony Capitalist Hypocrisy

From Swedish economic historian Eli Heckscher “There are few things more repugnant than the combination, in a larger number of businessmen and corporations, of proud calls for freedom and independence  in good times,  and pathetic whimpers for assistance in the

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Too Much Safety is Unsafe

Companies and investors hardly need more bureaucrats looking over their shoulders trying to guess what they are doing right or wrong. They need room to maneuver so they can adjust or change their strategies as quickly as possible whenever there

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The Casino Economy

“Present day capitalism is sometimes attacked for being nothing but a “casino economy”. But I know of no casino where the head of the central bank and the finance minister accompany customers to the roulette table, kindly offering to cover

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The Myth of Laissez Faire

The quasi-governmental institutions Fannie Mae and Freddie Mac guaranteed  mortgages, which Wall Street happily securitized once the credit rating agencies- which had been given a legally protected oligopoly by the government-declared them to be safe investments.  Government owned banks and

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