zabouti

This wasn’t capitalism. This was greed.

I broke out laughing when I read the following quote from a New York Times article on Nevada’s terrible economy since the housing bust.

Robert A. Fielden, an architect and urban planner in Henderson, said the state has been particularly hurt by real estate speculators who flipped property for profit and then just walked. “We have never faced anything like this before,” he said, reflecting the despair that can be heard in the voices of even Nevada’s biggest boosters.

“What we are living with now is, we let the free market reign without any controls at all. We talk about the United States being built on capitalism. But this wasn’t capitalism. This was greed.”

Right.