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Milton J. Madison - An American Refugee Now Living in China, Where Liberty is Ascending

Federalism, Free Markets and the Liberty To Let One's Mind Wander. I Am Very Worried About the Fate of Liberty in the USA, Where Government is Taking people's Lives ____________________________________________________________________________________________ "Extremism in defense of liberty is no vice. Tolerance in the face of tyranny is no virtue." -Barry Goldwater-

Saturday, February 05, 2011

Lawyer to Wall Street Says Don't Blame Pay - WSJ.com

"It was understandable why there was anger," says Mr. Eckhaus, but "the crisis was not caused by Wall Street fat cats. It was caused by a confluence of economic, political and historical factors."
I do not think that history had anything to do with the problem. I think it was purely the fault of bad public policy that created an environment that misallocated resources and allowed and incentivized this to happen for decades.

Lawyer to Wall Street Says Don't Blame Pay - WSJ.com


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