"No Atheists in Foxholes." -- No Libertarians in Financial Crises

Views on the Economy and the World by Jeff Frankel | Jul. 18, 2008 (Opinion)

Someone this week asked me what I thought of policy-makers who ex ante profess a free-market ideology and acute sensitivity to the dangers of moral hazard from financial bailouts, but who toss that ideology overboard when faced with a financial crisis. The reference was to Treasury Secretary Henry Paulson's lobbying this week in support of a rescue for Fannie Mae and Freddie Mac, the two big home mortgage agencies, following on the rescue of Bear Stearns ... Full Story »

Posted by Beth Wellington

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Subjects: U.S., Business
Topics: U.S. Economy
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Posted by: Posted by Beth Wellington - Jul 18, 2008 - 9:49 AM PDT
Reviewed by: Beth Wellington (review), Fabrice Florin (review), David Dresser (review), Denise Clendening (review), Paul-André Raymond (review)
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4.0
 by Denise Clendening - Jul. 18, 2008

I enjoyed the wit in this opinion piece that addresses a serious subject. The meaning I derived from this story is that there should be no foxholes and no financial crisis to begin with if we did cautious planning and were not greedy. After reading this opinion piece I was left thinking that taxpayers are going to be in the foxholes with the crisis and the people who got us there are going to be hiding and praying safely behind the lines.

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4.0
 by Beth Wellington - Jul. 18, 2008
Beth posted this story.
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3.0
 by Fabrice Florin - Jul. 18, 2008
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3.6
 by Paul-André Raymond - Jul. 19, 2008
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1.5
 by David Dresser - Jul. 18, 2008

This is silly and false. One thing does not relate to the other. The writer seems not to know what he is talking about. There is no information in the piece, not even in the "supporting" aside.

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