Was the financial crisis really the "aggregated choices of the whole economy?"

Reader comment on: Cutting the Financial Sector Down To Size

Submitted by ben (United States), Nov 27, 2009 14:21

This seems to be an extremely dubious claim. Many of the "innovative" financial products being peddled that eventually exploded were not even understood by the CEOs of the corporations doing the peddling, let alone the average banker or citizen. The "free-market" was in no way free at all. It was corrupt, shadowy and destructive. The tobin tax seems to be a free-market solution to the problem. It does not singly out industries at all. Like a carbon tax, it has the ability to change behavior in a truly free market sense.

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