LibertyWeek, CEI’s weekly podcast, covered the bailout and the financial meltdown on Wall Street in its last episode. “Bailouts & Ballparks” features an interview with John Berlau, Director of the Center for Entrepreneurship at the Competitive Enterprise Institute.
My guest co-host William Yeatman and I discuss with John how excess regulation, the Federal Reserve, failed housing programs, government sponsored enterprises, and corruption brought Wall Street to its knees. The three of us come away from the interview with a different conclusion than the mainstream media. Rather than labeling the meltdown as a failure of the free market, we showed that there wasn’t all that much freedom in the housing market to begin with. This lack of freedom was the real problem.