Tuesday, February 17, 2009

Greenspan's a pinko-commie too! (who knew?)

From Financial Times:
Greenspan backs bank nationalisation
By Krishna Guha and Edward Luce in Washington
Published: February 18 2009
The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman has told the Financial Times.
But... but... I thought the market was magically self-correcting?... and whatever happened to self-regulation deriving from enlightened self-interest???

What would Milton Friedman be doing if he were alive today?
Scene: inside a coffin
FRIEDMAN (scratching wildly at the coffin lid): Let me OUT!!!
(Okay: it's a bad joke.)

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