by Patrick J. Buchanan – December 8, 1997

With each bailout, money managers go unpunished
and, indeed, are rewarded for stupidity, while
incompetent regimes never pay the price of their
economic blunders and thus never correct
them…And if the stock price of Reed’s bank
plunged, and loans had to be written down, and
other big bankers were exposed as chowderheads,
is that not the price a free market imposes on those
who fail?…