A repository of John's recommended Wall Street Journal articles.
Tuesday, April 1, 2008
WSJ.com - Reform a la Glasgow
In short, the decade's great experiment in direct, unmediated lending is undergoing an Adam Smith cleansing. Yet the politicians, in their typical election-year panic, now demand more power for the same regulators who failed to use the power they already have to prevent the current crisis.
Today's credit panic isn't some "crisis of capitalism" that needs a vast new layer of regulation. The regulators are as much to blame as the regulated...
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