Origins, Solutions, and Sovereignty
This segment between Sara Robinson and Bill Beutler on AIG primarily raises three good questions. How did this situation start? What is the best solution? Should foreign sovereign wealth funds be part of the solution?
I'm queasy about characterizing the problem as a disease, if just on the grounds of the organic fallacy. I don't see greed as a problem, and corruption is not part of how this predicament started. Regulation could create the grounds for corruption, though, in the future, so I'm very reluctant to consider nationalization on anything but pragmatic grounds. It's not the lack of regulation, but how outdated the legislative structure governing the financial system has become, resulting in more concern for the chairmen than for consumers with the mortgages.
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