Bush has called for his financial crisis summit to support free market economy.
It seems he is in a minority but what should the world do?
Free market seems to have the best rewards and now unfortunately the biggest risks.
It is no easy matter we could slow the growth very much if the rewards are not there.
While Bush could not win a raffle if he bought all the tickets is he right on this?

Free Market yes or no?

NOOOOOO NOOO NOO NO NO No no no nono nononononono nooooooooooooooooooooooo!!

The debate reduced immediately to false dichotomy: unfettered free markets vs socialist intervention. Markets are great at delivering products and services, but when it became a global casino for traders using non-existent money, the market suffered the fate of any institution that's run by unsupervised gambling addicts.

We will hear much more about free market vs? in the next 6 weeks.
I am not pushing socialism, in fact do not think it can help here.
But we will see change must see it.
Loans must be backed by collateral and the American system seems doomed.
Rewards for betting on shares falling are madness surely.
A great number have borrowed big money to invest in shares surely a bad practice.

Dear Belly,

According to a recent article in The Age,
The leaders of the US, France and the
European Commission will ask other World
Leaders to join them in a series of summits on
the global financial crisis, beginning in the
US soon after the November 4th Presidential
election.

Although Bush has stressed that any steps to
prevent future crises must maintain and
strengthen the free market, French President
Nicolas Sarkozy and European Commission
President Jose Barroso have issued a joint
statement in which they press for stiffer
regulation and supervision for cross-border banks,
a global "early warning" system and an overhaul of
the International Monetary Fund.

The Age tells us that the talks may also encompass
tougher regulations on hedge funds, new rules for
credit rating companies, limits on executive pay
and changing the treatment of tax havens such as
Cayman Islands and Monaco.

From The Age article,
it sounds as if things will be better controlled,
with Bush out of the picture. Let's only hope that
he won't be replaced by McCain and Palin. Which
would be a global disaster.

we have a word
for the ‘deregulation’ of society
we call it - anarchy

we recognize that anarchy is bad
because the most ruthless and violent
claw their way to the top
and use further ruthlessness and violence
to keep themselves there

what on Earth makes anybody think
that deregulation or ‘freeing’ of the market
has any different result?