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

To: Freedom Fighter who wrote (116079)	9/28/2008 5:23:06 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

>>So the question of whether the lack of regulation caused this is irrelevant to free markets. We don't have free markets PERIOD!<< so how would your version of a free market prevented lehman from leveraging 35-1 to up their own commissions and profits on the way up? btw, they get to keep those 100s of millions, if not a billion or two in commissions/fees. their freedom incentive was to put the business and the nation at risk. >>If we had sound money, the excesses would have been short circuited by higher interest rates years ago no matter how corrupt, greedy and unregulated the system was. We would have had a short minor correction. The "real" reason we switched to this ass backwards monetary system was to avoid the limits on excess and wealth transfer that a truly free market would put on corrupt government and financial elites. You can't beat up and blame something we don't have for the failings of what we do have.<< i agree easy credit is at the core of the whole problem and that was a governmental problem that began during the clinton administration (and with his blessings - it almost balanced his budget). debt (greed, covetousness - wanting more than one ought to be entitled) is america's crack and it will eventually bury us as a nation.