When I examined the subprime fisaco I was really interested in the question of whether the pro-regulation people in DC missed the bubble, or whether they saw it, but were held back by Bush’s anti-regulation ideology. When I found out that Bush was about the only one in DC even trying to slow down the bubble, I took that empirical evidence as showing, “Yes, society does stupid things, but investors and regulators are part of that stupid society, so don’t expect bubble theories to produce any useful policy implications.”
Scott Sumner
2010 sausis
Pranešimai
Thou shalt be trespassed, as it were
Prieš 58 minutes
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