NZBC on the global financial crisis
NZBC has a good Q&A on the global financial crisis:
The questions are:
- Does this crisis represent a failure of free markets, of untrammelled deregulation, and the consequence of unrelenting greed?
- But surely it is greed that motivates Wall St, and is behind all these troubles?
- Did nobody see this coming?
- But don’t these central banking bailouts show that capitalist banking doesn’t work?
- If it doesn’t get done?
- OK, but isn’t the bailout just going to renew all the moral hazard issues associated with the so-called “Greenspan put”?
- So should we feel smug that the New Zealand banking system seems very safe by comparison?
- This is all terribly serious, is there nothing to laugh at here?
- What does this mean for investors?
Go read the article for the answers. It is very very good.