Sensible advice

The aim shouldn’t be to preserve the status quo, but to find ways to allow banks to fail without exposing the general public to the fall-out.

Anthony Evans, of the Cobden Centre amongst other organisations. If western governments had taken this advice 2-3 years ago rather than creating enormous moral hazard by bailing out the banks, maybe we’d be out of the recession already. Just think about it – we’re supposed to have had one of the biggest financial crises of modern times, and yet how many banks have actually failed?

 

 

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