Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (70426)	9/17/2008 7:34:00 PM
From: Elroy Jetson	1 Recommendation Read Replies (2) of 74559

Sound banking regulations and transparent auditing have been necessary since banks first existed. Of course these regulations limit your potential subsidized welfare lending benefits - so it can only be expected that you'll complain bitterly about them. Next thing you know, some new "socialist" banking law will actually require you to repay your debts, and I can only imagine your howls of outrage as your welfare bowl is taken away. You know that a sound business regulation which takes some of your welfare benefits away is the oldest socialist trick in the book! You have pronounced a banking system which has required a welfare infusion of several hundred billion dollars to prevent collapse "to be in pretty good shape". Well of course you do! You have become so dependent upon welfare that you find this sort of bail-out due to a lapse of sound banking standards to be entirely normal and desirable. New Zealanders like yourself have become so dependent upon state welfare that you find this normal and pretty ship-shape. Maurice, you would never survive in a free-market economy and should thank your lucky stars you live in a protected environment like New Zealand. Like most bludgers, you've made a career of complaining about the subsidies which you couldn't survive without and save your sharpest barbs for laws which make banking possible. .

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