Mises Daily
Author:
Antony P. Mueller
Online Publish Date:
when you succeed, you will earn high profits and market share, and if you should fail, the authorities will save you anyway. Under the protective shield provided by distress.” The chairman has lived up to that promise. Greenspan fulfilled his mission in the wake of the 1987 stock market debacle. He made sure that the to opt for size at the cost of prudence in order to become “too big to fail.” As bailout institutions with the promise of unlimited liquidity, it the