Tuesday, March 17, 2009

Underlying propagator………….

John Carney explains how the present financial crisis came in into exist in US. And he defends the Milton Friedman and Anna Schwartz works. 

But what is important to note here is what Anna Schwartz said "we won't have a capitalist system . . . People are responsible for the decisions they make. If they've made wrong decisions, lost money and don't have the funds to operate, well, it's time to leave the market. And that's what the Fed's responsibility is, not to shore up firms that have no reason to continue." 

The other articles are 1 2 and Anna Schwartz interview to WSJ.

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