It sometimes takes a cartel
Reader comment on: A Global Transaction Tax
Submitted by Lyle (United States), Dec 10, 2009 18:38
Recall that in the 1930 oil fell to $.30 a barrell until the Texas Railroad Commission regulated oil production in Tx. Volker has observed that much of the financial innovation has been a net negative. Does wall street make anything? no. Every so often they go crazy, (1929,1980, 1990, 2000,2008) and need to be bailed out. Given that they are middle school children who don't know how to restrain themselves, elder supervision is needed.
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