| The case for capitalism
by Norman Poltenson
6/8/2010 3:45:00 PM
| | Economic downturns tend to sour Americans on capitalism.
The recession that began in December 2007 has been both protracted and severe. The bursting of the housing bubble revealed a mix of government policy which encouraged reckless lending; wild speculation; investors who exhibited little caution; phony financiers; borrowers who lacked the ability to repay their loans; and regulators asleep at the switch, lacking in sophistication to understand the industry they were regulating, or both.
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