Tag: AIG
Robert Higgs’s Recent Interview by Libertad Digital (here in English)

I was interviewed recently by Angel Martin for Libertad Digital, an interesting Spanish website. The interview was posted today. Topics discussed include the recent financial debacle, the current recession, the government’s recent policy actions, and several related, more general subjects, such as “regime uncertainty” and U.S. foreign policy. For those who might be interested...
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Government Responds to Economic Woes by Making More Bad Mortgage Loans

Since the summer of 2008, the U.S. Treasury and the Fed have initiated a welter of new spending, lending, and subsidizing programs ostensibly aimed at stemming the recession that began early in that year and deepened quickly in its last quarter and in the first quarter of 2009. Among the most notable of these...
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One Man’s Hero Is Another Man’s Goat

Jack Welch, former Chairman and CEO of General Electric, gives CNBC his opinion of Ben Bernanke: “I think he saved the system, I think he’s a national hero,” Welch said. “I think Bernanke seems to be a guy operating on a clear intellectual framework. This guy’s done a hell of a good job.” Perhaps Bernanke...
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Government Is Furiously Dancing the Two-Step

How do once-free people lose their liberty? The formula may be stated succinctly: crisis and leviathan. Alternatively, and somewhat more fully stated, the procedure for the government officials and their supporters who hope to gain by quashing the people’s liberties is (1) cause a serious crisis, thereby heightening the public’s fears, and (2) blame others...
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Thoughts on AIG

[Cross-posted at Organizations and Markets] Nothing has annoyed me more in the last 24 hours than the constant parade of angry, self-righteous, and ill-informed denunciations of AIG coming from Capitol Hill and the mainstream media. No one, of course, likes the thought of a failing, taxpayer-supported firm paying large bonuses to executives. But let’s...
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