Human Error and Political Mistakes

                      

Human error was instrumental in the financial meltdown of 2008/2009,and various bubbles that we have had in the past.

                       

In each case, there has been finger-pointing, usually by anti-business politicians and by bureaucrats whose immediate impulse is to blame big business and bankers; the usual scapegoats. That is the litany of criminalization.

                       

I have always blamed human error. Whether it be loose monetary policy of the Federal Reserve, in inflating currency, or inappropriate accounting rules for normal securities market situations, actions that hasten the ruin of investment liquidity. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)