According to Keynesian propagandist Paul Krugman, the mortgage meltdown is a disaster of the unrestricted free market. In fact, the government central bank pumping vast new piles of money into a government-subdized mortgage system (FHA, Fannie Mae, Freddie Mac, etc., etc.) led to the insanity of the bubble, and now a global recession. Then there were the government regulations mandating generous loans to the poor (anti-redlining). Of course, the private Wall Stret firms like Bear, Stearns and J.P. Morgan that profited from the boom, and are now going down because of it, should be allowed to fail. Instead, the Fed … Continue reading Crazed Keynesianism