Liberalism: Do You Agree We've Had Enough of It? Message Board

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Politics : Liberalism: Do You Agree We've Had Enough of It?

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To: siempre33 who wrote (48411)	9/23/2008 10:26:29 PM
From: LLCF	1 Recommendation of 224750

<The government must divorce itself of the albatross of Fannie and Freddie, balance and drastically decrease the size of the federal budget, and reduce onerous regulations on banks and credit unions that lead to structural rigidity in the financial sector.> Yea, except you can't deregulate the financial sector ala Phil Gramm when you have the FDIC. If you're going to insure deposits you better damn well regulate that pig! Anyone want to get rid of the FDIC and sent everyone scurrying to withdrawl their money and put in their mattress??? Jeeeez, this stuff is basic!! <structural rigidity in the financial sector.> Ummmmm, that' about he least of anyone worries I hate to say... banks have been doing whatever they want if no one has noticed. As someone who worked at one I can guarantee you that all the derivative traders were GIDDY when Gramm rammed through that legislation. DAK

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