Monday, October 20, 2008

WAPO Defends Capitalism?

Imagine my surprise at seeing this in the Washington Post of all places:

...The deregulation of U.S. financial markets did not reflect only the narrow ideology of a particular party or administration. And the problem with the U.S. economy, more than lack of regulation, has been government's failure to control systemic risks that government itself helped to create. We are not witnessing a crisis of the free market but a crisis of distorted markets...More

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