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No, the Free Market Did Not Cause the Financial Crisis

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  • No, the Free Market Did Not Cause the Financial Crisis

    In March 2007 then-Treasury secretary Henry Paulson told Americans that the global economy was “as strong as I’ve seen it in my business career.” “Our financial institutions are strong,” he added in March 2008. “Our investment banks are strong. Our banks are strong. They’re going to be strong for many, many years.” Federal Reserve chairman Ben Bernanke said in May 2007, “We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.” In August 2008, Paulson and Bernanke assured the country that other than perhaps $25 billion in bailout money … Continue reading →


    I know there have been many links and discussion here on this topic. But this one does a great job of explaining how central banking (the Fed's meddling) created the financial crisis and how a lack of meddling (letting the free-market work) would have avoided it.

  • #2
    Re: No, the Free Market Did Not Cause the Financial Crisis

    Originally posted by RoyalShock
    http://www.lewrockwell.com/woods/woods111.html

    I know there have been many links and discussion here on this topic. But this one does a great job of explaining how central banking (the Fed's meddling) created the financial crisis and how a lack of meddling (letting the free-market work) would have avoided it.
    Good link and an interesting read. :yes:

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    • #3
      There was a reason the Founding Fathers didn't want a centralized banking system running things. This is a big reason why
      Infinity Art Glass - Fantastic local artist and Shocker fan
      RIP Guy Always A Shocker
      Carpenter Place - A blessing to many young girls/women
      ICT S.O.S - Great local cause fighting against human trafficking
      Wartick Insurance Agency - Saved me money with more coverage.
      Save Shocker Sports - A rallying cry

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