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Politics : Formerly About Advanced Micro Devices
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To: RetiredNow who wrote (1112763)1/23/2019 1:14:25 PM
From: Tenchusatsu1 Recommendation  Read Replies (1) of 1573091
 
Mindmeld, the bailouts are what happened AFTER the bubble burst. It wasn't the reason why the bubble inflated to unsustainable proportions in the first place.

Like I said, the investment bankers would have found their sources of funding regardless of Glass-Steagall. They would have still been lulled into a false sense of security thanks to AIG and other insurance mechanisms. And the banks would still have approved too many subprime mortgages because they didn't want to be left behind in the craze.

No matter what, the bubble burst in 2008 not because of the repeal of Glass-Steagall. It burst because of wild and rampant speculation. It burst because, like it or not, that's what we get when we live in the speculation economy. And there isn't a government solution to that.

As for Ocasio-Cortez and Warren, they are socialists who have the exact wrong idea about how the investment economy works. Heck, Warren thinks she's entitled to a share of my profits because of roads. Cause you know, pay for those roads with my taxes isn't enough. She now has to claim a share of returns on investment (without sharing in the losses if said investment goes bust). What a racket.

Tenchusatsu
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