I guess I could say, “I told you so.” For months I have argued on “BreakPoint” that the cause of the market meltdown was moral failure. Free markets—capitalism itself—can thrive only when corporations and individuals exercise moral restraint. When those restraints fail, government regulation is sure to follow; which, in turn, makes free markets less efficient, and certainly less free.
Moral restraint, you see, requires a set of morals—beliefs that some things are right, and some things wrong. To put it more simply, moral restraint requires a biblical worldview.
President Bush has often said he gave up drinking when Christ came into his life. Well, Wall Street and the greedy mortgage brokers might invite Christ in to help them recover their own morality.