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- American Vanguard Corporation Q3 2008 Earnings Call Transcript
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User 165042
2 Comments
What the Bear Stearns Resolution Tells Us About the Fed
To suggest that regulators should be involved in restricting the business of free exchange with regards to the time preference of money only makes the suggester a center of moral hazard.
What the Bear Stearns Resolution Tells Us About the Fed
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....