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Remember Friday March 14 2008: it was the day the dream of global free-market capitalism died. For three decades we have moved towards market-driven financial systems. By its decision to rescue Bear Stearns, the Federal Reserve, the institution responsible for monetary policy in the US, chief protagonist of free-market capitalism, declared this era over.
Links:
[1] http://www.ft.com/cms/s/0/8ced5202-fa94-11dc-aa46-000077b07658.html