A Video of the Unthinkable: Two CNBC Talking Heads Ask: "Should We Have Let the Bad Banks Go Under?"

Gary North

January 15, 2008

I never thought I would see this. These guys are at the edge of the abyss, ideologically speaking.

One of them admits he is at the tipping point. He doesn't see how the capital markets are really free.

What did it for him? Bank of America's announcement that it needs more money. This is the largest bank in the U.S. It says the Merrill Lynch purchase turned out to be a loser.

In July, I did an article on "the pathetic Merrill Lynch."

//www.garynorth.com/members/3825.cfm

If I knew, why not Bank of America?

David Faber says this isn't the free market any more. You think?

Word is getting out. The era of free market capital is over.