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Politics : Politics for Pros- moderated
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To: RMF who wrote (524119)11/23/2012 8:19:25 PM
From: Little Joe25 Recommendations  Read Replies (1) of 793671
 
"Free markets got us into all the CRAP were in now"

Oh, exactly which part of a free market system requires banks to lend money to people who can't pay it back.

What part of a free market system required the creation of multiple bubbles to bail out the financial losers in our economy.

What part of the free market system requires the use of huge deficits to pay for what we want.

What part of the free market system required us to go to war in Iraq and Iran, let alone not pay for the wars.

As for regulation none other than Bill Black, probably the foremost expert on bank fraud in America explains that the problem wasn't lack of available regulations it was the unwillingness to utilize it even after the fact to prevent fraud. I would add that every problem we have was directly or indirectly of government policy. The serial bailouts-bubbles was the direct result of fed policy with both parties cheering Greenspan on. The deficits were likewise created by the same culprits. The wars were all authorized by congressional action, including members of both parties.

To say that the free market system caused our problems is just not true. Yet, not even the Republicans defend the free market system from these false memes.

lj
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