Philip Greenspun’s Weblog » The Audacity of Doing Nothing
The markets are working fine, but they’re giving people answers that they don’t like, so people cry market failure.
A little risky to say, but not entirely false. The thing is though, the market is supposed to be good at allocating assets and resources and therefore the market failure people are referring to is the irrational allocation followed by a disorderly crash. Come to think of it, it baffles me that this logic comes from people who manage billions of $. It's such faulty logic it's almost dishonest.
