What part of government intervention has told people to do credit default obligations or drive the current leveraging in the derivative market to around 10 times the value of the world economy? These markets are not regulated, and there was no indication of any government bailout. So, anyone want to argue how the government is a source of moral hazzard or hindering the free market from making needed corrections?
Consider other things also like:
* Charles Ponzi nearly taking down the banking system in the northeastern United States.
* What part of government regulations causes credit rating services to get stupid and falsely value risk during the most recent meltdown?
* What part of government involvement caused Long-Term Capital Management to nearly take down the financial markets in the United States: http://en.wikipedia.org/wiki/Long-Term_Capital_Management
I was informed in a prior thread that at NO TIME has government involvement help save the financial markets from collapse. Well, look at LTCM here. The Federal Reserve brokered a deal to have other firms pool together and prevent the financial markest from collapsing.
To say government involvement is responsible for every ill is to be VERY short sighted and to live under the belief that if Ayn Rand were followed to the letter, we would end up have flowers and rainbows every day.
