Meltdown

Thomas Woods talked about his book Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse (Regnery Publishing; February 9, 2009). In his book, the author provides an analysis of the financial market’s degeneration from a conservative perspective. The analysis includes: the assertion that the media has created a myth that the crisis is so complicated that people should not question government’s response to it, and that capitalism and deregulation are the culprits. He explains how government intervention in the economy with Fannie Mae and affirmative action programs like the Community Redevelopment Act actually caused the housing bubble. Ultimately, the author says a new financial system is needed. In his remarks he focused on the Federal Reserve system and the Austrian theory of the business cycle. He responded to questions from members of the audience.

Thomas Woods is author of nine books, including [The F close