Ep. 706: Blast from the Past with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
00:00
Jerry Rigging and the Fed's Bailout of Morgan Stanley
How did you feel as an economist free market mindset in the fall of 2008 when the Fed government officials decided to let Bear Stearns go under, let Lehman Brothers go under but then they saved Goldman Sachs and Morgan Stanley? I think that what bailing out does it conceals a lot of the full heartiness of previous administrations namely the Bush administration with the idea that everybody should be a homeowner. There's no justification for either. That handouts to wealthy people is just as bad as handouts to poor people.
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