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At Last the Truth about the Financial Crisis,
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This review is from: The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy's Only Hope (Hardcover)
This is the first and clearly the best book to explain the causes of the financial crisis. John Allison reports not just from the outside but from the inside. BB&T which he led for 20 years gave him access to what happened not only in his bank and markets but in Washington. He shows that the crisis was caused primarily by the Fed (the number one villain), the FDIC, govt housing policy, Fannie and Freddie, TARP, and boatloads of insane and harmful regulations. He shows also that crony capitalism (actually crony socialism)played a key role from beginning to end. He shows that the government's goal of expanding home ownership caused a massive misallocation of capital (from production to consumption.) He is not afraid to name names. He demonstrates that the fundamental cause of crises such as this are philosophical. He argues convincingly that the only real solution to diaasters like this (including the destruction of our economy) is pure capitalism backed by the philosophy of self interest guided by reason. This is a brillaint and heroic book that I recommend everyone read if you want America to survive.
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Showing 1-10 of 51 posts in this discussion
Initial post: Oct 2, 2012 4:37:47 PM PDT
In reply to an earlier post on Oct 4, 2012 3:59:50 AM PDT
Léon Masdel says:
And you, You better stay asleep!
In reply to an earlier post on Oct 4, 2012 8:28:22 AM PDT
In reply to an earlier post on Oct 5, 2012 2:00:26 AM PDT
Last edited by the author on Oct 5, 2012 2:02:00 AM PDT
Léon Masdel says:
Better to remain silent rather than talk nonsense as you do.
In reply to an earlier post on Oct 5, 2012 5:36:04 AM PDT
leon [[Better to remain silent rather than talk nonsense as you do.]]
There's your chance. What have I written that is nonsense?
In reply to an earlier post on Oct 11, 2012 5:07:18 PM PDT
Robert E. Woodham says:
How can you even lay claim to reality? You don't even believe in certainty.
Posted on Oct 12, 2012 3:18:23 AM PDT
J. Carlos Aguado says:
In reply to an earlier post on Oct 12, 2012 3:23:09 AM PDT
woodham, I believe in nothing.
You really should learn to read. I wrote nothing about my reality but that of you little boys who can't face adult responsibility.
In reply to an earlier post on Oct 14, 2012 2:58:52 PM PDT
M. Romano says:
Please explain why decision making based on self-interest is an excercise for "little boys".
In reply to an earlier post on Oct 14, 2012 6:43:40 PM PDT