In the print edition of today’s Sunday Denver Post, a front page headline declares:
Plunge washes markets in fear
Methinks this a bit sensationalized. William Randolph Hearst would have been proud. Apparently the online editor agreed, because the electronic version of the same story has a less hysterical headline: “Fear of market instability may aid financial regulation bill.“
The thought of politicians and bureaucrats devising financial regulations brings forth an image of cavemen offering sacrifices to the weather gods so the frightening lightning will cease. They don’t understand the causes, but that doesn’t stop them from doing something.
