"Too Big to Fail" Wasn't the Problem?
Russ Roberts, an economist,?novelist, and?dreamer,?argues in a new essay that the financial crisis was a result of government policy and interventions over the last 30 years, not “too big to fail” institutions. “[W]e are what we do,” writes Roberts.? “…And what we do in the United States is make it easy to gamble with other people’s money-particularly borrowed money-by making sure that almost everybody who makes bad loans gets his money back anyway.”? Recommended reading for anyone following the financial-reform debate.[%comments]