Originally Posted by DementedLogic
The crisis would not have happened without government intervention into the marketplace. That is no oversimplification, that is the truth. Without the massive bubble caused by the federal reserve, there is no crash. The private sector participants should have to take accountability for their actions, but the government intervened in that as well. Creating more regulations doesn't fix the problem, it hurts the businesses who didn't contribute to the crisis. As long as the federal reserve continues with keynesian monetary policy, there will be bubble formation. Those bubbles will burst, as all do.
He lacks a basic understanding of our system, economics and moral hazard.