Friday, October 03, 2008

Obama wrong on Glass-Steagall; Clinton & Biden right

Again, Barack Obama, left-wing Democrats, and the mainstream press are wrong about the 1999 repeal of the Glass-Steagall Act; Bill Clinton and Joe Biden were right.

1 comment:

  1. I hate the WSJ. Bunch of ideologues. I only read FT and the Economist anymore.

    And Maria Bartaromo? Ridiculous lightweight.

    Derivatives need to be regulated. By my count, this is at least the second serious crisis in derivatives used, rather than as a hedge position, as a leveraged bet on a flip of the coin.

    And yet we always bail them out. Why shouldn't they try? Upside risk is all theirs, downside all ours.

    Does wikipedia not have an entry on "moral hazard?"