Obama blames the banking crisis on deregulation. There has been mention of a rule lifted that kept investment banking separate from mortgage lending, but there has been no adequate explanation other than “greed” as to how that actually caused banks to over-lend.
McCain has a better answer but misses the root of the problem. He [...]
Andrew Roth at the Club for Growth put up a stock market history graph of the time President Bush has been in office. One may look at this as a pretty good indictment, but I think there’s something else.
I am not a business major, but if we look at the 2007-2008 and see a bubble, [...]
Let’s see, House is at 8pm Eastern, while the debate is 9pm. I guess I’ll liveblog it, but I’ll have to keep potential projectiles out of arm’s reach.
McCain’s attacks against Barack Obama’s relationship with William Ayers aren’t working, especially since Obama counters with the more financially relevant Keating 5 scandal.
Bill Bennett said this morning on [...]
Hat Tip: LCMS Ohio District Blog
FastCompany.com reports that a Vatican cardinal is blaming greed for the financial crisis:
The world’s financial crisis is the result of greed, and an example of what happens when God, basic rights, and the common good are ignored.
Don Boudreaux has a nice, non-theological answer for the accusation of greed:
“Greed” certainly [...]
When Congressman Pat Tiberi voted No in taking $700 billion of the taxpayers’ money and giving it to the banks, I thanked him. It was a principled move. On September 29, Rep. Tiberi was right:
“This bill is a $700 billion check to build confidence in our financial markets. It’s a remedy, not a cure, [...]
