Here is a recent interview of Rep. Barney Frank on CNBC. I found the first few minutes to be interesting, as well as disconcerting in many ways:
What nearly everyone, especially the decision-makers in Washington, don’t seem to grasp is the risks inherent in large-scale market interventions. One question to ask might be, “If large-scale market interventions are so beneficial, and carry no or little risk, why haven’t we been doing them previous to the onset of the Financial Crisis?”
Furthermore, there seems to be little discrimination between “quick-fix” solutions to problems vs. those of substantive value.
It all gets back to the issue of Sustainable Prosperity – what will America’s economic future be and how can we insure that it will be an “Economic Greenfield” and not an “Economic Brownfield?”
As an aside, I did send Rep. Frank an email message on January 14 alerting him of my concerns at the time, as well as of ProsperityByPen.com