The glee in European capitals at the woes of “Anglo-Saxon” capitalism is tangible. Sarkozy and the German finance minister pile on, with Sarkozy saying, “Self-regulation as a way of solving all problems is finished. Laissez-faire is finished. The all-powerful market that always knows best is finished.” Peer Steinbruck, meanwhile, claims that this would have all been avoided if Washington hadn’t laughed at German proposals for stricter regulation…

Read the full story