View from the Center and Left Message Board

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Politics : View from the Center and Left

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To: Katelew who wrote (148252)	10/27/2010 2:28:24 PM
From: Dale Baker	of 542497

The main problem is that these guys never blow themselves up exactly the same way twice. Yes, I expect to see 3-4 more new ways for Wall Street to blow bubbles then implode in the rest of my investing career. Sadly, our political system doesn't work in a way that can head them off in time. One of the main reasons for that is that this sector with a proven record of terrible capital allocation and risk control, has succeeded in giving itself the mantle of the core of our great free enterprise system which must not be impeded in any way by the evil government. That scares off enough Congressmen to stop any meaningful controls from being passed. I think I posted a piece today on income inequality and how the Tea Party crowd should be voting for folks who will rein in Wall Street excess. Instead, Wall Street's "freedom" is glorified by the very folks they specialize in ripping off. AKA Mr. Pogo.

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