The media, politicians, and even many businessmen have blamed todays financial meltdown on capitalism. But in this talk, John Allisonthe longest-tenured CEO of a top-25 financial services companyargues that this crisis is a legacy of the governments anti-capitalist policies.
http://www.aynrand.org/site/PageServer?pagename=reg_ls_financial_crisis Mr. Allison uses his unique inside view of the financial services industry to show how massive government intervention into the U.S. economyfrom the creation of the Federal Reserve in 1913 to a reckless crusade to encourage home-ownershiplaid the groundwork for an unsustainable real estate boom. And he shows how the governments response to the inevitable busta frenzied series of bailouts, nationalizations, and stimulus effortsis only making things worse. Finally, Mr. Allison explains the underlying philosophical reasons for the crisis, and discusses the immediate and long-term solutions. He shows that capitalism, far from being the cause of todays crisis, is its only cure. John Allison is chairman of the board of BB&T Corporation. He began his service with BB&T in 1971, became president in 1987 and was elected chairman and CEO in 1989 (serving as CEO until the end of 2008). During Mr. Allisons tenure, BB&T has grown from $4.5 billion to $137 billi ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:289694 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
