Marketplace of Ideas Blog

Milwaukee Journal Sentinel columnist John Torinus on the aftermath of the subprime crisis and what followed:

The country’s financial system should have been able to survive the subprime crisis. It would have been a major shock to the system, but many parts of the country, including Wisconsin, have relatively few loans in foreclosure. …

The outrage in the flyover parts of the country, such as Wisconsin, will result in much stricter regulation of new financial instruments. That’s as it should be. Those laws, rules and regulations ought to be set up by sensible people in conservative flyover country, people from outside Wall Street and Washington.

We need a large injection of common sense and ethics.