"Eliot Spitzer is out with a new book, Government's Place in the Market.
It's a tiny book, only 83 pages and Spitzer writes only 59 of the pages. The remaining pages are critiques of Spitzer's comments by Dean Baker and Robert Johnson. The book does need critiquing.
Spitzer's commentary is simply not in touch with reality. On the first page of the introduction, Spitzer writes that we have forgotten what we had learned from the crisis. What did we forget?
...in the immediate aftermath of the bankruptcy of the entire financial system, there was a consensus that the libertarianism that had dominated Washington for 30 years was an abject failure. (p.4)
Say what? Thirty years of libertarianism? A period when the United States central bank, the Federal Reserve, boosted the money supply from $1.6 trillion to $7.7 trillion. A period during which it became near impossible to start a brokerage firm to compete against the banksters, without spending literally millions to pass through all the regulatory hurdles. A period during which government attempts to regulate every nook and cranny of our lives exploded. This Spitzer tells us was a period of libertarianism