18 May 2009
Worth a Look: Ferguson on the Financial Crisis
Anti-Dismal pulls out the most striking passages from Niall Ferguson's excellent article in Friday's New York Times on the financial crisis. (Here is Ferguson's entire article.)
The two most central claims: first, the financial crisis is not the result of deregulation, but rather of bad regulation; second, what makes us think that the raft of newly proposed regulations and regulators will be any better than what we already had? Quis custodiet ipsos custodes?