A while back there was a company called Long Term Capital Management. There is a book out about it called When Genius Failed by Rojer Lowenstein. Its interesting to see how the Fed will bail out one of its own. While LTCM certainly did not escape unscathed the Fed did protect its wealthy clients. So much for lassaiz-faire! When it comes to workers getting hurt we are told thats the price of a free market, that in the end we are all better off, but when the big boys are going to get hurt, all of a sudden government interference is tolerable.
