President Bush in one of his speeches said that "Wall Street got drunk." And he was right. They were drunk. So was Main Street. The whole country was drunk. But what he doesn't point out is where did they get the alcohol? Why were they drunk? Obviously, Greenspan poured the alcohol, the Fed got everybody drunk, and the government helped out with their moral hazards and the tax codes and all the incentives and disincentives they put in, all the various ways they interfered with the free market and removed the necessary balances that would have existed and would have kept all this from happening.
--Peter Schiff