Charles Brown writes: >> CB: What would have been the >> specifics of the "pain" you mention ? >> Would not the whole system have >> collapsed - a systemic threat - ?
I do not believe it would have collapsed. I am not even sure what that means in context. >> >> And what about the historical >> pattern ? The monopoly corporations >> always get bailed, and aren't >> allowed to fail, such as LTCM, >> Savings and Loan beneficiaries >> of bailout, Chrysler in '79, GM now. >> Finance press had the current known >> bailout at $ 8 trillion behind the >> headlines, I believe. >> Doesn't that mean that our >> system is a monopoly >> system, not free market ? Our system is what our system is. We have sectors of the economy that are fairly characterized as free market and others that are not. Sometimes rent seeking works and sometimes it doesn't. I am not sure there is a rhyme and reason as to the public-private relationship, other than in hindsight. David Shemano _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
