By Paul Greenberg
"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." --F. A. Hayek
Back in mid-September, when the financial crisis struck, the solution was going to be simple. Yes, it would also be expensive. And painful. Like a heckuva hangover after a wild binge. But time would cure it, the way the liver slowly cleans the bloodstream of toxins. Toxic assets might be cleared out the same way.
Yes, there would be some discomfort, as the doctors say when they mean this is going to hurt like hell. And there would need to be some re-organization and re-regulation, which is a discreet term for letting a lot of hot-shot bankers, hedge-fund operators, incompetent executives, and assorted others who thought they could beat the system find more constructive things to do in life.
SOURCE: THE PATRIOT POST