Ten Days That Changed Capitalism
By DAVID WESSEL
The past 10 days will be remembered as the time the U.S. government discarded a half-century of rules to save American financial capitalism from collapse.
On the Richter scale of government activism, the government's recent actions don't (yet) register at FDR levels. They are shrouded in technicalities and buried in a pile of new acronyms.
But something big just happened. It happened without an explicit vote by Congress. And, though the Treasury hasn't cut any checks for housing or Wall Street rescues, billions of dollars of taxpayer money were put at risk. A Republican administration, not eager to be viewed as the second coming of the Hoover administration, showed it no longer believes the market can sort out the mess.
Click here to read the test of this article and then return to this page to post your feedback: http://online.wsj.com/public/article/SB120657397294066915-kps7JpgtZ94AzNLCc8q064xrf9s_20090327.html?mod=rss_free
Trending Stories
Latest
WE'RE A 100% LISTENER SUPPORTED NETWORK
3 Simple Ways to Support WVW Foundation
Make Monthly Donations
-or-
A One-Time Donation
-
Mail In Your Donation
Worldview Weekend Foundation
PO BOX 1690
Collierville, TN, 38027 USA -
Donate by Phone
901-825-0652