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It wasn't a failure of the free marketsIt was a failure of mercantilism.
Once again, you couldn't have sub-prime mortgages
or any of the other financial shenanigans without an active alliance between
certain companies and various
governments.
Those companies were granted either special privileges or protections that just weren't available to other companies. That in turn is backed up by governments threatening force. Corporate socialism. Mercantilism. It doesn't matter what you call it, it's still joining corporations and governments so that BOTH can get around the rules. That is what failed. And more of that is what the politicos want to inflict on the rest of us. For our own good, of course. 
Posted: Sun - October 4, 2009 at 01:34 PM
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 Pagan Vigil
Pagan philosopher, libertarian, and part-time trouble maker, NeoWayland watches for threats to individual freedom or personal responsiblity. There's more to life than just black and white, using only extremes just increases the problems.  My Thinking Blogger Nominees
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