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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Kerry Phineas who wrote (110691)	1/22/2008 10:50:42 AM
From: Freedom Fighter	Respond to of 132070

"You were saying?" LMAO. ;-) It's certainly possible this is the right move. To me the key is that all these banks and brokers need to keep suffering severe pain, writing off losses, and getting diluted or driven into prudent hands until the excesses are removed. We don't have to choke them to death. It can be done in a controlled way, but it must be done the right way. The fundamental problem with our system is that both the domestic and international monetary systems are unsound. Interest rates should be set based on the available pool of savings vs. the demand for that savings. They shouldn't be set by a bunch of guys at a central bank with flawed and incomplete data, flawed and incomplete understanding, political motivations, economic theories, target real interest rates etc.... That's the main reason we keep getting excesses around the globe and then have to rinse and repeat every few years.