FT.com, Lex: “End of laisser faire?”


Before everyone dons Mao suits, let it be noted that it is not clear how raw this all-powerful capitalism really was. The market was fuelled by the central bank-filled punchbowl of cheap credit and underwritten by the existence of the Greenspan “put”. This promise of rate cuts in an emergency has now crystallised into a systemic bailout.

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