There is a whole bunch of writing about JP Morgan and what they did or didn’t do RE: Facebook. The administration is trying to make a case for even more regulation, even though the Frank-Dodd act of last year failed utterly to prevent this.
Why? It is a function of free markets that folks are free to mess up. They can guess wrong, and lose money. Or make money. That is what they do. and, oh by the way, that is the system that we have, and the system we can live with.
Except that obama wants to change it to total government control, we can’t live with that. It is called Socialism, or perhaps Communism.
For a free market view of the situation, the American Thinker article is here.
I am taking the rest of the weekend off’. Thanks for following this blog.