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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (419068)	9/23/2008 1:07:21 AM
From: i-node	Read Replies (3) \| Respond to of 1575583

Investment banks undergo very little regulatory control. The Gramm-Leach-Bliley Act reduced that regulatory control further while allowing investment banks to get into the mortgage business. The hedge funds, totally unregulated, are doing fine. It is the banks -- the most heavily regulated entities in the financial industry -- which are facing problems. This is highly suggestive that regulation isn't the key to success. But the overriding point is you cannot talk about "regulation" as helpful UNLESS you can specify PRECISELY how that regulation would have prevented this incident. The importance of this problem is being vastly overestimated. We have 50 trillion in unfunded liabilities, and we're worried about a measly 3/4 trillion? Our economy can absorb a trillion dollar hit with ease -- with a hard blip perhaps, but a blip nonetheless. We are handing foreign governments this much money annually because we refuse to pursue our own energy alternatives, e.g., OCS, ANWR and others. To add insult to injury, Democrats want to make it a gift to the poor on the absurd concept that everyone ought to be able to own a home.