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This is absolutely ridiculous. Go study some economic theory and burn your stupid Keynesian books.
Mar 18 04:47 am
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All Comments by User 165042 »What the Bear Stearns Resolution Tells Us About the Fed [View article]
Government control, exercised through taxation (theft), inflation (monetary policy) and protection rackets (regulation) is the root cause for market cycles and quote "market failures." As long as government exists, there will be the "invisible hand" of corruption and insupportable, overextended, immoral greed and theft.
"Regulators" do not have performance linked to pay any more than the concept of regulation can be morally supported. When a moral, free market exists alongside this and KNOWS it will be bailed out to a certain extent by regulators at the cost of all others, guess what happens? Traders and trading firms are rational actors whom will respond to incentive....