OS believes in reading a wide variety of views, since he has the same bad habit as everyone else: Reading stuff that always reinforces what one already believes.
Bob McTeer is an essentially sober soul, with an impressive resume.
He takes the view that TARP, the extraordinary Fed actions, etc., were necessary and did avert a worse disaster. And, that the current course of governmental spending is unsustainable.
There's a lot left unsaid here, that OS wishes would be said, especially about the moral hazard baked into the culture--'If I'm a really big player, I can be reckless, 'cuz help is always on the way.' Think AIG...
But, still, perhaps his little piece of turf is something everyone could stand on while they work out the painful details of WhatHappensNext.
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