Sensible Views Weblog

Sensible – [sen-suh-buhl] – having, using, or showing good sense or sound judgment

Sowell Says Wall Street Bailout Would Have Ended The Free Market As We Know It

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Thomas Sowell said sacrificing America’s free markets in order to save Wall Street would be “a tragedy of tremendous magnitude.”

Sowell is a respected Hoover Institution economist, columnist, and author strongly disagrees with those who say an unbridled free market is to blame for Wall Street’s excesses.

Rather, he attributes the crisis to “very cynical political rules that protected people who went way out on a limb financially, because they knew they had the taxpayer’s money to back them up.”

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