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: Hope Praytochange who wrote (110179)	8/9/2011 11:27:37 AM
From: TimF	2 Recommendations Read Replies (1) of 224649

It was made by conservative extremists who told us that if we just eliminated regulations and rewarded greed and recklessness, it would all work out. No it wasn't. Almost no regulation was eliminated, certainly What regulation that was eliminated somehow caused this? I wouldn't say regulatory changes made no difference, some types of banks where allowed more leverage which was a serious mistake, but that's not an elimination of a regulation, and regulations also contributed to the problem, with government's pushing lenders to lend to people who where poor credit risks, and with reserve requirements favoring mortgages over other assets. And it didn’t work out 80 years ago, when the same people sold our grandparents the same bill of goods, with the same results. That's even sillier. There was no move away from regulation before the great depression, and in the early days of the depression, and again before the 2nd downturn in the depression around '37 there was an increase in regulation.

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