Tuesday, July 15, 2008

O'Driscoll: The Fed and Treasury Are Wrong On Freddie and Fannie

Gerald O'Driscoll has a well reasoned Op-Ed at WSJ outlining a solution to the Fredie Mac/Fannie Mae crisis, here.

His conclusion:

[T]he prevailing wisdom at the Treasury and the Fed..is to encourage ever larger institutions, too big to fail, which can be then placed under Fed ministrations. Let us not resolve one crisis by sowing the seeds of the next. We need to empower markets, not embolden central bankers.

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