They managed to quote one individual who made a lot of sense:
“Our business is cyclical in nature and is prone to boom and bust,” said Andrew Czekaj, chairman and CEO of Cambridge, a Herndon, Va.-based developer. “The boom in the last phase of the cycle was underwritten by cheap credit, [and] the Fed’s predisposition to over-prime the pump led to riskier and riskier bets.”
“This does not require government intervention on behalf of the ownership group. Any intervention will simply prolong the structural problem of the market — too much capital chasing too few deals — and lead to a more severe correction later,” Czekaj said.
9 comments:
Real estate is not a center of the economy, and from what I heard, they benefited handsomely from the free market corruption.
there's no such thing as "free-market corruption". Corruption is corruption. Its bad people doing bad things, whether in government or the free market.
And if they have benefited from corruption, than it certainly shouldn't be bailed out.
Yes, bad people in the free market doing bad things leads to "free market corruption", because, BECAUSE, the conservatives and libertarians have been arguing that free market capitalism is a moral ideal. It can therefore be termed corruption.
"And if they have benefited from corruption, than it certainly shouldn't be bailed out."
They should be booted out, and the system reformed... follow this with bailout money.. shake, stir..
"the conservatives and libertarians have been arguing that free market capitalism is a moral ideal. It can therefore be termed corruption."
I'm not sure I understand the difference in corruption of people in the free market compared to corruption of people in government. They usually come hand in hand anyway; corruption is corruption.
"They should be booted out, and the system reformed... follow this with bailout money.. shake, stir.."
Unfortunately these people are the ones being subsidized by government.
"I'm not sure I understand the difference in corruption of people in the free market compared to corruption of people in government. They usually come hand in hand anyway; corruption is corruption."
And it happens in free markets.
"And it happens in free markets."
Its part of the human condition.
"Its part of the human condition."
And it is part of government, too. And what is the opposite of corruption? Oh, yes, non-corruption! Which means the government can be non-corrupt as well.
"Which means the government can be non-corrupt as well."
I never said it couldn't.
"I never said it couldn't."
Then there is no reason to compare it to businesses.
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