Wall Street Isn’t Always in the Wrong

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In the age of bailouts, which is all that many of the young people who are getting interested in free markets today have ever known, it’s easy to adopt the knee-jerk view that anyone on Wall Street is by definition in the wrong, etc. That’s why Bob Wenzel’s post today, in which he goes after the awful Michael Douglas public service announcement about insider trading, is so important. He includes this great Rothbard speech excerpt that deals with Rudy Giuliani’s reign of terror on Wall Street:

It’s also worth revisiting this column on Michael Milken by Paul Craig Roberts, who can hardly be accused of excessive sympathy for the financial elite.

(By the way, if you enjoy the Rothbard excerpt above, here’s the whole speech.)

10:45 am on February 28, 2012