Read Gregory Davis on the Bailout

I strongly recommend reading Gregory Davis’ article on the bailout specifically, and accountability in general.  It is a close mirror of many of my own thoughts and feelings with regards to the bailout.  One of my favorite parts is this question, which Congress should have asked to Sec. Paulson and Mr. Bernanke:

Chair: Mr Paulson, Mr Bernanke, you say we are in a grave crisis in which only immediate and sweeping action will stave off disaster.  OK, fine.  Question: How on earth did you let it get this bad? Why on earth do we have a Treasury, a Fed, an SEC, etc. if not precisely to bring impending crises to light and forestall this sort of disaster?  Either we are dealing with some sort of truly sinister conspiracy, or we are dealing with criminal incompetence.  Gentlemen, which is it?



Filed under Austrian Economics, fiscal policy, Libertarian, politics, role of government

2 responses to “Read Gregory Davis on the Bailout

  1. And Paulsen/Bernanke’s answer was…..?

  2. The question was sadly hypothetical. It would have been great to see an authentic response to this, though.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s