Statlig hjelpetiltak

Ord blir fattige, en tegning sier som kjent mer enn tusen ord.



http://www.coxandforkum.com/archives/001225.html

Det aller verste ved denne "krisen" er alt sludderet som kommer fra dem som later som om de er kapitalister, eller i de minste konservative. Bush, Sarkozy og herhjemme det samlede Høire har stått i kø for å gi skylden til krisen som blandingsøkonomien har skapt på kapitalismen.

Consider the current crisis. The causes are complex, but the driving force is clearly government intervention: the Fed keeping interest rates below the rate of inflation, thus encouraging people to borrow and providing the impetus for a housing bubble; the Community Reinvestment Act, which forces banks to lend money to low-income and poor-credit households; the creation of Fannie Mae and Freddie Mac with government-guaranteed debt leading to artificially low mortgage rates and the illusion that the financial instruments created by bundling them are low risk; government-licensed rating agencies, which gave AAA ratings to mortgage-backed securities, creating a false sense of confidence; deposit insurance and the “too big to fail” doctrine, whose bailout promises have created huge distortions in incentives and risk-taking throughout the financial system; and so on. In the face of this long list, who can say with a straight face that the housing and financial markets were frontiers of “cowboy capitalism”?

This is just the latest example of a pattern that has been going on since the rise of capitalism: capitalism is blamed for the ills of government intervention--and then even more government intervention is proposed as the cure. [Emphasis added]

http://www.coxandforkum.com/archives/001225.html