It is a simple news report about regulatory changes, but the NYT figures that Ron’s book is important enough for a strong mention near the end. Times are changing.
Source link: http://blog.mises.org/10682/ron-paul-mentioned-in-new-york-times-fed-story/
Ron Paul Mentioned in New York Times Fed Story
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Interesting. Why would the fed have the authority to set bank executive’s pay?
wilsey:
Because it’s much easier to make scapegoats than it is to solve the real problem.
The popular belief is the recent crisis was caused by bankers being given incentives to make risks. The obvious solution? Destroy the incentive structure that supposedly caused the problem by having the State take it over.
Seattle,
A lot like when Mao decided sparrows were the problem to be eradicated for China’s farm program. It always reminds me of “the little old lady who swallowed a fly”. I don’t know why they always swallow the flies, perhaps we’ll die.
Lets regulate Ben’s pay to Zero!
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