Its not Free Market when Banks who voted to inflate the Housing Bubble own the very institution thats bailing their asses out (the FED). Don't be an idiot. America is NOT Free Market. America's Banking system is built on the largest Moral Hazard the world has even seen. Without a blank check guaranteed by the FED, and by proxy, Goldman....er, "the Treasury", Banks are left to succeed or fail based on their own shrewd management. When Companies are left to fail if they fuck up, criminal leverage and stratospheric risk-taking doesn't happen. You probably don't even know what a Moral Hazard is.
"The US Federal Reserve's policy setting committee, the FOMC (Federal Open Market Committee) and its members, regularly publicly state a desired target range for inflation (usually around 1.5-2%), but do not have an explicit inflation target. This is under debate within the Fed, since inflation targeting is usually very successful in other countries because of its transparency and predictability to the markets." please show proof that inflation targeting works.
So first your Free Market pals, Greenspan and Bernanke, deregulate the economy, then they turn their backs as your Free Market pals borrow the money at 1% and steal everything in sight with it, and then when things really get mucked up, you wash your hands of the whole thing and say that that was not Free Market. Sort of the like the way the communists say what is in Russia is not Communism. What you don't get is this, so wake up ... You got EXACTLY what Free Market deregulation YIELDS! THIS IS IT! Real people don't follow the rules. Play a game of poker and learn about people before you spout off naive ideology which never can happen and never will happen. But if you must spout off this failed ideology, at least keep it in academia and debate it with Greenspan.
You need a clue. Last time USA was even close to a free market was 1890s-1910. That was not working out too well, with riots & strikes and heavy public upheaval. That's why the government started getting involved, in things like labor laws. Try educating yourself what free market is meant to be. It's a theory & an ideal. Does not exist, has never existed and never will. Not possible. Try to think why, feel free to use history as your reference.
There has never been, in the history of mankind, the utopian free market, because there is: 1) Money and 2) Thieves. The moment you place money in another person's hands (e.g. a bank), you need government rules. Stop being so naive. It hurts - unless you are under 10.
Regulation does not have to be anti free market.... Regulation could be implementation of basic common sense..... Common sense applies across the board......
You don't even know what you're saying half the time. Why you even bother moving to USA, you seem to be getting torn up inside from all the hate & frustration. You say that Bernanke & the rest of that crew do not know of the "unintended consequences", when the reality is that they are aiming for those intended consequences. You have any real reason to believe otherwise? Oh and by the way. If you are a "professional trader" you should be crossing your fingers for the uptick rule to come back. Does not sound like you know what opportunities it presents to the pros.
Try reading what I wrote with careful attention. You don't even have the slighest clue about the roots of socialism, capitalism and the free market ideals. I doubt you can even pick out which one of the three was reality before it became a theory.
'common sense' was the home prices couldn't go down nationally. trying to get regulators to guess when the market is wrong and when they should step is an almost impossible task. the regulations after this crisis will probably be made through 'consensus', consensus is a disaster way to regulate since only the contrarians know about the crisis before hand. They will fight the last war