It’s funny that the major premise of capitalism is that market forces will solve all problems. Then when market forces negatively affect the hip pockets of capitalists they want the government to bail them out.
Rating agencies like Moody’s Investors Service, which get paid a lot of money for rating mortgage-backed securities, seem to be performing much like the major accounting firms that rubber-stamped the inflated, deceptive financial statements of the Enrons and the Worldcoms.
This present liquidity crisis is a perfect time to put some tough regulatory laws in place to stop this deceit. But I guess that is too much to ask.
Q. Why will capitalism always survive?
A. Because socialism will always be used to save it.