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Politics : Formerly About Advanced Micro Devices
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To: TimF who wrote (371908)2/25/2008 12:52:35 AM
From: tejek  Read Replies (1) of 1573562
 
Yes insurers insured bad loans and now they face problems, some of them might not be solvent anymore. That's the situation. But what problem is Spitzer trying to solve? Pushing bad loans in to a seperate company makes it even less likely that the insurance company will be solvent.

He's trying to save the muni bond portion of the industry. Do you understand that if these insurers go under in their present form, they threaten the viability of muni bonds throughout the country?

Like I said to you in an earlier post, what do you suggest we do? Frankly I don't think doing nothing is an option but I am open to your suggestions.

because in your heart of hearts, you can't possibly believe that private enterprise could be this greedy, this callous and this stupid.

No private industry is almost always greedy in a broad (an non negative) sense, and stupidity isn't rare.

But it makes mistakes people take their lumps (maybe going bankrupt) and people learn not to make those same mistakes, or if they try they get less support and funding later.

A lot of people are going to pay for that greed and stupidity.....some who deserve it and many who don't. That's why we need gov't regulation.

Spitzer on the other hand wants to short circuit that for his own greedy and callous benefit. Well not directly for him personally (although perhaps he expects political benefits, but benefits for the New York State government. Hill use its regulatory power to help its own bond situation at the expense of others. That's a serious conflict of interest.

Now your ideology is making things up.
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