President Bush makes an important point and distinction here [emphasis mine].  The couch economists and newly found supporters of a new President are tempted by talk of new regulation and government control.  Bush defends free-market system | BBC Returning to the cause of the credit crunch, Mr Bush admitted that failures had been made "by lenders and borrowers, by financial firms, by governments and independent regulators". But that the answer was "not to try to reinvent the system". Instead, he said the solution was to "fix the problems we face, make the reforms we need, and move forward with the … Continue reading The G20 ought to consider only regulation that assesses the outcome of good and bad decisions

I worry about the bailout plans led by newly famous Gordon Brown (Prime Minister UK), and which every other world leader is falling over themselves to adopt.  Such an approach is natural for Brown and his political leanings, but to see it occurring around the world to the extent it is happening is worrisome.  That worry is exacerbated now that we see proposals to help out the auto manufacturers.  This is protectionism by another name, and will result in worse companies with worse products.  The same can be said of Banks.  How can a bank with a financial tap opened … Continue reading Some fresh thinking – The New American Bank Initiative (NABI)