
If Ben Bernanke manages to save the financial system from collapse, he will — rightly — be praised for his heroic efforts.
But what we should be asking is: How did we get here?
Why does the financial system need salvation?
Why do mild-mannered economists have to become superheroes?
An interesting overview of 1929-31 banking issues, where we find ourselves today and how to avoid it in the future.
Proponents of deregulation have dangerously short memories. Regulations were put in place to keep the economy stable, not merely for punishment or "nanny state" motives as some believe.
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