Word: free-market
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...that one that helps build a foundation under the value of their own homes is high on the list. The process may create an atmosphere that looks and feels like socialism, but if the net effect is that the drop in housing prices is reversed in short order, even free-market advocates may tolerate this plan rather than watch the world burn...
...Freddie Mac, which are largely responsible for the financial crisis through their politically driven efforts to securitize mortgages that should not have been made in the first place), the emergence of government bailouts, and the overall shift to a more state-involved economy, we are beginning to see free-market assumptions wither away. Banks no longer must perform meticulous cost/benefit analyses for each and every loan or investment they make, and troubled financial firms can afford to take on even more risk knowing that the government and the American taxpayer will have their backs...
...widening and narrowing of the eyes to get across his meaning. Maybe they should engrave that one over the doors of the future Bush Library. Love him or hate him, Bush has undeniably been a President who tried doing things differently, but nevertheless got different results. He is the free-market apostle who wound up ordering massive government intervention. The clarion of free trade and lawful immigration who leaves office with protectionism and isolationism resurgent. The would-be uniter with the wedgelike effect...
...that if you have five economists in the room, you'll get six different opinions," Bauman says, after the show. Nevertheless, the prevailing view by the end of the conference is that things are unlikely to get any better without some sort of government intervention. "Even the hard-core free-market thinkers are reconsidering their stance nowadays," he notes. That's a sobering thought. Which could be why economists need a laugh right...
...double the money of pious investors. (Dominelli pleaded guilty and was sentenced to 20 years in prison, while Payne was convicted and sentenced to 27.) The spate of incidents wasn't limited to the U.S., either. When communism crumbled in Eastern Europe, one of the earliest side effects of free-market capitalism was the proliferation of people looking to get rich quick. In Albania, under Communism the poorest nation in Europe, citizens sank some $1.2 billion dollars into pyramid schemes in 1996. When they collapsed the following year, investor outrage brought down the government...