Left alone, financial markets usually work out the best possible deals among competing interests. Whenever the feds have gotten involved, by contrast, they've taken sides in the tension between stockholders and creditors - invariably throwing stockholders overboard.therefore, bailouts are bad for stockholders. I would like to read his take on how BearStearns, Lehman, AIG, etc., don't seem to have made very many of those "best possible deals."
Thoreau and the Eco-Puritans of Concord
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While Thoreau was by no means a Puritan, I think that similarities
regarding the human occupation and the goodness of creation are evident in
both.
3 hours ago
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