[ExI] Article From March on SubPrime

Stathis Papaioannou stathisp at gmail.com
Thu Sep 25 11:10:30 UTC 2008

2008/9/24 Lee Corbin <lcorbin at rawbw.com>:
> Fred writes about a March (!) 2008 article that very, very
> clearly explains three ways that the federal government (
> not it says, to be confused with the Fed reserve) contributed
> to the current fiasco:
>> Since there have been several posts about the current financial
>> situation I thought that some might be interested in an article which
>> covered many of these issues six months ago:
>> http://www.investors.com/editorial/editorialcontent.asp?secid=1502&status=article&id=291507506135021

The government and central bank are players in the market like
everyone else, with the difference being that that they tend to be
more influential and they do not to act exclusively to maximise their
own profits. What reason do you have to be so certain that their
participation can only make things worse? For example, if the
government decided to slap a tax on tulips because it considered the
price of tulip bulbs was rising irrationally, would that necessarily
be worse than allowing a bubble to form then burst?

Stathis Papaioannou

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