Daily Article:
Wednesday, November 19, 2008
by
Robert P. Murphy
Just about the only good thing to come out of the housing bubble is that many financial analysts see the virtue of the Austrian theory of the business cycle. Greenspan did his best to blame deregulation and foreigners who saved too much, but many people now think that the Maestro's ultra-low interest rates in the wake of the dot-com crash may very well have sowed the seeds for our current crisis.
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Daily Article:
Wednesday, November 19, 2008
by
Robert Higgs
Congress gave Paulson $700 billion, and the first thing he did was give $125 billion to his pals at the nine biggest banks and investment banks in the country. Never one to display ingratitude, he gave $10 billion to Goldman Sachs, the firm he had headed before passing through the revolving door to the Treasury. So generous was he that he handed out $290 billion of the $350 billion that Congress authorized him to spend immediately.
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