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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (29574)	9/17/2008 7:58:29 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 71588

Re: "Totally unregulated normally doesn't bother me much." Me either! Until and unless something grows so large that it has the ability to destroy economies and nations, or tumble the world's financial system into collapse. The I most certainly want to have prudent regulations to increase market transparency and efficiency and reduce it's systemic risks! A few years ago when Warren Buffett correctly described 'unregulated derivatives' (mostly the massive market in Credit Default Swaps - backed by 'liar's valuations') as holding the potential to be "Weapons of Mass Financial Destruction" few people probably understood what he was talking about... and he received a lot of public ridicule for it. Not any longer. Now he look prescient. When something grows to a size that the federal government has no other choice but to bail-out with public money the institutions that deal in it --- simply because they have no real choice in the matter... to fail to do so could bring about financial disaster... then that 'something' has grown TOO LARGE to escape scrutiny and prudent rule-making. Bubble/Collapse markets are not as desirable as more stable and dependable ones --- and the more stable ones (with prudent regulations, standardized products and transparent market-based price discovery, and legal authorities standing behind settlements to prevent frauds...) are the only ones that can sustain themselves over the long-term... and grow with the strongest, healthiest grow.