We tend to look at our economy as a diversion from the norm after a record financial set back. But the economy we are in may well be closer to the norm. The former economy was distorted by government policies
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“In truth, markets had been trying to work since 1984, with Continental Illinois, desperately sending signals that the modern financial system was shot through with untenable risks that required a renewal of long-held regulatory principles. But government bailouts thwarted real
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