June 19, 2009
For the past
nine months, Wall Street critics have painted a damning picture of
the housing bubble as the product of deregulation and reduced
governmental oversight. To read the Obama administration's new
financial sector regulation overhaul proposal, the government
didn't have anything to do with the current crisis. But as Reason
Foundation Policy Analyst Anthony Randazzo writes, it wasn't the
free market that caused the crisis, it was government action.
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