Russell Roberts’ excess prices

Professor Russell Roberts says “I don’t even know if we’re in a crisis. What I find depressing about this as a moment in American democracy is the lack of transparency in all of the moves that have been made by the government. ... When the sale of Bear Stearns was managed by the government and many of us, including myself, decried it as an arbitrary expansion of Federal Reserve and government power, we were told, “It had to be done. It just had to be done.” Why? If Monday morning had come along and Bear Stearns had been unable to meet its obligations, they would have brought everybody down with them. So it had to be done”.