Niall Ferguson Calls for a Great Restructuring

Niall Ferguson has interesting article in the Australian. He says that we need to ditch our new-found love of Keynes and work on reducing debt not expanding it. He calls for nationalizing banks that no have pulse (ala Sweden) and modifying mortgages. I agree on the banks. On mortgages, Ferguson isn’t worried about moral hazard since he doesn’t believe this bad behavior will be repeated. Hmm. I’m not so sure about that. Still, it’s an interesting take if nothing for the boldness of vision.

Posted by on March 2nd, 2009 at 2:39 am


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