Found via The Corner of Berkshire & Fairfax.
We went through a traumatic financial crisis in 2008 and 2009 and you can argue that under exceptional circumstances, the Government can, maybe should, intervene in the economy, as the U.S. Federal Reserve (Fed) did with massive quantitative easing starting in 2008. As we all know, governments everywhere have intervened in securities markets for decades by artificially lowering interest rates during declines and artificially supporting prices. That said, I’m always uneasy when this happens, primarily because such interventions skew the markets and make it difficult for investors to determine the soundness of a business and its prospects for future success.
