The View From 1776
Thursday, March 19, 2009
Washington Has Always Demonized Wall Street
President Obama and his Congressional henchmen are just doing what comes naturally for populists, socialists and other brands of liberal-progressivism.
As this website repeatedly has noted, no amount of government intervention in the financial markets will prevent the next boom-and-bust cycle. Certainly regulations crafted by Senator Christopher Dodd and Congressman Barney Frank, whose judgment is warped by hatred of businessmen, will not do the job.
Cycles are rooted in human nature and exacerbated by the Fed’s flooding the market periodically with too much money, encouraging rampant speculation.