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Socializing financial risk.

Publication: The Register-Guard (Eugene, OR)
Publication Date: 29-NOV-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Socializing financial risk.(Editorials)(The Fed and the Treasury step in once again)(Editorial)

Article Excerpt
Byline: The Register-Guard

Over the past year, the U.S. government has assumed an estimated $7.4 trillion in direct and indirect financial obligations. This unprecedented federal intervention shoves aside long-standing debates about the proper role of government in the economy. The plain fact is that the financial system has never been truly independent of the government: Even under an administration that embraces free-market principles, the public will be called upon to maintain credit flows and protect financial institutions from failure. Now that the extent of the taxpayers' responsibility for the financial system...

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