This brief lecture by the Mises Institute’s director of editorial affairs offers a fantastic glimpse at the long struggle for truth by economists of the Austrian School.
Daily Archives: 18 April 2009
Treasury won’t disclose bank bailout details to congressional monitor
“But ‘without a clearer explanation’ about parts of the program, ‘it is not possible to exercise meaningful oversight over Treasury’s actions,’ said Elizabeth Warren, a Harvard Law School professor who leads a special congressional oversight panel monitoring the TARP program. Her comments came in a Senate Finance Committee hearing on the bailout program.” (Read more from mcclatchydc.com)
Of course government can’t regulate Wall Street. Instead of giving them our money, just let them fail! The best (only) way to regulate Wall Street, is to expose banks to the consequences of their irresponsibility. The irresponsible/incompetent ones go bankrupt. Instead we’ve taken money from the competent and given it to the incompetent.
Obama’s Economic Advisor
“Mr. Summers, the former Treasury secretary and Harvard president who is now the chief economic adviser to President Obama, earned nearly $5.2 million in just the last of his two years at one of the world’s largest funds, according to financial records released Friday by the White House.
Impressive as that might sound, it is all the more considering that Mr. Summers worked there just one day a week.” (Read more from nytimes.com)
The crooks are in charge.