23 September 2008

The Most Important Criteria to Consider...

This is from an open letter to Congress on the possible bail-out plan. I think it's the most important consideration...

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, Americas dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.
Thanks to Marginal Revolution for the post.

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