Friday, Mar 28, 2008
What if the Bear wasn’t saved?
MoneyWeek: Why Bear Stearns needed to be saved
"...while we might not like the fact that the government bailed Bear Stearns out of the mess (to a certain extent), when that would never be the case with 99% of other businesses, it was an absolutely necessary step. After all, do you really think that the impact would be limited to one country or market? Not a chance.
This is one case when 'laissez-faire' economics would have caused Armageddon. Without a backstop, we'd be left to the devices of people. And I don't know about you, but there are certain people whose devices I wouldn't want impacting my financial well-being!"
Posted by damien @ 10:46 AM (324 views) Add Comment
3 Comments
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1. harold said...
Say hello to socialized banking... and life.
2. Pmc74 said...
The bail out will only delay and magnify the train of events Merryn describes.
3. the northerner living in oz said...
solalisim for the rich
Jim Rogers discusses FED bailout of Bear stearns
http://www.youtube.com/watch?v=APw7XDEJoG8