The cynic in me says that what he really meant is that by securitisation the government no longer could intervene in the financial wheeling and dealing. These paper shufflers desperately want to sound like they really cared for the common good, and didn’t want to “burden” the government with too much regulation work.

BTW, the fairy tale of a free market is just that – completely unsupported by empirical evidence. Never in the history of the world have markets been free in the sense of the naive Austrian ideology. I’m surprised how still entrenched is this fairy tale in the minds of so many. I blame the decline of the education system.

Does anyone care about the opinion from a writer?

Marty Wolf cannot be too bright if he mistakens what we have — Crony Capitalism of Soft Fascism — for free markets.

Look about you Marty Wolf. Most markets are oligopolies, protected by barriers to entry — government regulatory agencies, start-up costs in the millions, preferential treatment for commerical paper selling.

Perhaps Marty Wolf sneaks off to the men’s room for a bit of wankering to his the Return of Keynsianism fantasy.

Marty Wolf acts either like a Statist Shill or like an idiot.

Which one are you Martin Wolf?

Not going to happen. There is a natural credit cycle: banks lend too much, then they lend too little. This has to impact the real economy.