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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: koan who wrote (92023)	12/25/2008 4:25:40 PM
From: Sunny Jim	1 Recommendation Read Replies (4) of 116555

<<A toxic formula was created during the last eight years: no government (remember Reagan: "government is not the answer, it is thre problem) and no rules, combined with the Ayn Rand "pure capitalism" ideology (Greespan was a worshiper of it and recently did a mea culpa) combined with 1% free fed money, and repeal of Glass Steagall, legislation to prevent regulation, leverage going from 12 to 1, to 40 to 1 and more with CDS insurance and all appointments made to emasculate government programs of oversight e.g. SEC.>> Gee, I wonder what Bill Clinton had in mind when he signed the repeal of Glass-Steagall.......

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