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So much for the assertion that the financial crisis was caused by the lack of regulations and government oversight. The free market isn’t to blame, since there is no free market to blame. The “fingerprints” of the real culprit—the government—are all over the place.
In an aptly-titled piece in the University of Florida’s Alligator (“As orchestra plays, U.S. economy sinks”), Chris Ceresa reminds college students about the continuing economic stagnation they’ll face once they graduate. (The recent report of an anemic May job market creates even greater cause for concern.) But Ceresa has no illusions about the current administration’s […]
Writing for The Harvard Crimson, Ms. Sandra Korn points to an interesting phenomenon. A large proportion of Harvard’s recent graduates have chosen to pursue careers in finance such as investment banking. This is no doubt due partly to the impressive salaries that such careers often provide. The author proceeds to scold these graduates for disregarding […]
Larry Breinhart of the Huffington Post and Barrett Sheridan of Newsweek are two of many commentators to use Alan Greenspan’s connection to Ayn Rand and Objectivism as a means to prove that Rand’s philosophy is incorrect and cannot work in the real world. The financial crisis, the argument goes, is directly due to Greenspan’s “full […]
In a knee-jerk reaction to panic and fear over the current financial crisis, the government issued a $700 billion dollar bailout bill last week. Rather than considering the cause of the “toxic loans” at the heart of this crisis, Congress decided that it had to immediately do something—anything. What politicians fail to realize, however, is […]