(Cross-post from my other blog, Freedom Is Moral)
“[...] many of the financial institutions that contributed to the problem were crony capitalist. Business leaders can have confidence in the working of free markets. It is government interference in markets that they should fear.”
John A. Allison
That’s the opening quote in Pablo Paniagua’s review of Mr. Allison’s book, The Financial Crisis and the Free Market Cure: Why Pure Capitalism is the World Economy’s Only Hope
Mr. Allison was a long-serving CEO of BB&T Bank. He saw the interference of government in the banking industry up close and personal.
Those icky, greedy bankers and icky greedy Wall Street financiers played a role in our current mess, but minor compared to the interference and misdirection and forced distortions arising from various federal agencies.
An overview of the mess we are in: Read more…