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Friday, November 14, 2008

Hey GA Hill

How do your libertarian values feel about regulating credit default swaps and the derivitive market?

Comments:
Nothing to add here, except to note that November 14, 2008, marks npgage's annual appearance on the blog.

Continue.
 
I've got a 50/50 chance of having a future nephew named Gage...GET EXCITED!!!
 
What a douche bag.

Anyway:

"To be sure: there isn't anything wrong with new products and services emerging in a free market system. What Austrian economists would point out, however, is that credit derivative markets have emerged on the back of a government-controlled credit and money supply system. And as the latter is assumed to be crisis prone, credit derivative markets might be seen as a multiplier of the crisis potential inherent in today's monetary system."

Thorsten Polleit, Honorary Professor at the Frankfurt School of Finance & Management
 
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