There is no way to stabilize the markets other than through government intervention.
In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention.
I'm a straightforward person. I like to be direct with people.
A Fed loan to Lehman Brothers would not have prevented a bankruptcy.
The U.S. didn't save enough; we borrowed a lot. There were structural imbalances in Asia with exporters, with oil exporters for a whole variety of things.