Wednesday, October 31, 2012
Economist, Thomas E. Woods, On Bailouts and Regulations
"Try letting a few major firms - yes, even in the financial sector, where we superstitiously believe no failures can be allowed - actually go bankrupt for a change. Make perfectly clear once and for all that there will be no bailouts, no looting of the public, on behalf of any firm, period. That would do more to jolt the financial sector into being sensible and cautious instead of reckless and irresponsible than all the regulatory tinkering in the world."............Hm, sounds good to me.