Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Snowshoe who wrote (70643)	10/23/2008 10:10:56 PM
From: Maurice Winn	1 Recommendation Read Replies (1) of 74559

Contrary to the developing "wisdom" that capitalism was tried and failed, it in fact worked. The banks that did not do it right have lost their shirts. Good riddance. People who worked for them and their depositors will have to get real jobs. There are plenty of non-bust banks to deposit funds with. I'm keen to go shopping when prices look bargain-like. So far, they don't look cheap enough. Alan Green$pan was right to expect that shareholders would want to not be ruined by their management. That still applies. There wasn't really more regulation needed. Fraud was already illegal. So was theft and other crime. Perhaps punishments need increasing to "organ donor" instead of "wet bus ticket wrist slap". That's part of regulation. What's the problem? Stock prices have gone down. I don't see how that is a problem. It means more people will have to get back to work doing something useful instead of living on imaginary "profits". That's good. SUV lines are closed, driving is down = good [unblock the roads so I can motor cheaper and faster]. The US$ has NOT been turned to confetti in Zimbabwe fashion but is on the contrary in boom mode as gold, platinum, silver, oil, stocks fall relative to it. It's good to have a viable currency. Hooray for Uncle Al KBE who kept the currency viable for 20 years. Mqurice

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