Glenn Reynolds talks with former BB&T CEO John Allison about how the government caused the housing and financial crises. When helming BB&T, Allison not only refused to underwrite projects based on eminent-domain abuse, he emerged as one of the outspoken critics of TARP and other bailout plans.
Must-watch, if only for Allison's explanation of why the financial sector is the "most-regulated" part of the U.S. economy—a basic point routinely dismissed or ignored by those calling for yet more regulations and bailouts.
About 11 minutes and well worth the time.
Comments