Rogers: We Need More Lehmans

By: Dan Weil

Money News

Investor extraordinaire Jim Rogers says the financial system needs more failures like Lehman Brothers to restore a functioning free market.
The chairman of Rogers Holding wrote in the Financial Times, “We need some more Lehmans so we can get out of this.”
During the last 20 years, “Greenspan and Bernanke introduced crony capitalism to the West, which is leading to a lost decade(s),” Rogers writes.
“Market fundamentals are that failures should collapse and be replaced by creative new forces rather than being propped up as zombies. Financial institutions have been failing for centuries and the world has survived.”