Wednesday, September 24, 2008

Watching The Presidential Address on the Current Financial Crisis

Bush just noted that the crisis was perpetuated because Congress's charter of Fannie Mae and Freddie Mac made people believe they were backed by the U.S. government, and let each borrow more money than usual.

Someone more libertarian than I might wonder, if the crisis was caused because of the market distortion of government intervention, is more government intervention really what we're looking for?

The opinion that intervention now will cost us all less in the long run is so pervasive, maybe this is a silly thing to wonder about.

Smarter folks than I have weighed in. Here's a short reading list to get up on the issues:

Let me know what you're reading in the comments, I'll try to work them into this so we can keep a list of good sources on the topic.