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is obama following the path to socialism started by paulson
You do not have permission to vote on this poll. |
| yes |
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10 |
52.63% |
| No |
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2 |
10.53% |
| paulson did not start anything |
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3 |
15.79% |
| don't care |
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4 |
21.05% |
| Total: |
19 votes |
100% |
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empee
Registered: Jan 2005
Posts: 1256 |
08-29-11 03:30 PM
Quote from jayre:
The idea that rescueing the big banks was not important is without merit.
If the US would have let BAC, AIG, Citibank follow Lehman, the result would have been the following.
-Every other bank, insurance co, brokerage, financial institution, would have been in danger
-LIBOR would have frozen completely
-Loans to consumers and business would be noneexistent
-The economy would have come to a standstill.
I can agree that wall street are crooks, have taken too much risk, and mabye some CEO's should have gone to jail. But to let the whole economy colapse because of that, is a STUPID argument.
Once again, we're dealing with a failed government. Its a failure of government to allow any institutions to become so big or powerful that they can't fail without destroying the whole economy.
Glad we fixed that!
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trefoil
Registered: Mar 2007
Posts: 3385 |
08-29-11 04:47 PM
Quote from empee:
Once again, we're dealing with a failed government. Its a failure of government to allow any institutions to become so big or powerful that they can't fail without destroying the whole economy.
Glad we fixed that!
Yes, something like a Glass-Steagall needs to come back.
I guarantee you that the free marketeers on ET would be against that too, 'cuz it, you know, interferes with the free markets. Look at the reaction to Dodd-Frank, which is a watered-down version of it.
To these people, 1932-1933 never happened. Or it happened because of too much gov't intrusion. Someone will be along any minute now to explain that one (away).
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RewriteQuran
Registered: Nov 2010
Posts: 597 |
08-29-11 05:21 PM
Fed regulates the reserve ratio of all banks.
SEC should also regulate the market capitalization of listed companies to twice their quarterly income.
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zdreg
Registered: Oct 2003
Posts: 8343 |
08-29-11 06:43 PM
Quote from empee:
Once again, we're dealing with a failed government. Its a failure of government to allow any institutions to become so big or powerful that they can't fail without destroying the whole economy.
Glad we fixed that!
assumption of too big to fail is not true. if handled properly the reorganization of the bankrupt entity would not sink the economy.
politicians and management and current workers are pulling the veil over the public's eyes. they want to fool u to save themselves.
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Eight
Registered: Mar 2009
Posts: 3365 |
08-30-11 01:00 AM
Quote from jayre:
The idea that rescueing the big banks was not important is without merit.
If the US would have let BAC, AIG, Citibank follow Lehman, the result would have been the following.
-Every other bank, insurance co, brokerage, financial institution, would have been in danger
-LIBOR would have frozen completely
-Loans to consumers and business would be noneexistent
-The economy would have come to a standstill.
I can agree that wall street are crooks, have taken too much risk, and mabye some CEO's should have gone to jail. But to let the whole economy colapse because of that, is a STUPID argument.
Things would have fallen apart, institutions would have closed their doors, competent people would have bought up the pieces and the recovery would be well under way.. that is historically what happens in a crisis when there is no intervention at all. The intervention in the 1930's prolonged the bad economy. The rest of the world that didn't intervene so much recovered way before the USA did..
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Samsara
Registered: Aug 2010
Posts: 643 |
08-30-11 01:32 AM
Quote from empee:
Once again, we're dealing with a failed government. Its a failure of government to allow any institutions to become so big or powerful that they can't fail without destroying the whole economy.
Glad we fixed that!
Hey, laissez faire. Oligopoly, leveraged speculation with risk transferred to insuring entities, then leveraged speculation on that insurance, was a purely free market phenomenon.
Systemic risk will always be there when there are short term incentives for that behavior.
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