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To: koan who wrote (92023)	12/25/2008 4:25:40 PM
From: Sunny Jim	1 Recommendation Read Replies (4) \| Respond to of 116555

<<A toxic formula was created during the last eight years: no government (remember Reagan: "government is not the answer, it is thre problem) and no rules, combined with the Ayn Rand "pure capitalism" ideology (Greespan was a worshiper of it and recently did a mea culpa) combined with 1% free fed money, and repeal of Glass Steagall, legislation to prevent regulation, leverage going from 12 to 1, to 40 to 1 and more with CDS insurance and all appointments made to emasculate government programs of oversight e.g. SEC.>> Gee, I wonder what Bill Clinton had in mind when he signed the repeal of Glass-Steagall.......

To: koan who wrote (92023)	12/25/2008 5:45:58 PM
From: roguedolphin	1 Recommendation Respond to of 116555

<<"A toxic formula was created during the last eight years: no government (remember Reagan: "government is not the answer, it is thre problem) and no rules, combined with the Ayn Rand "pure capitalism" ideology (Greespan was a worshiper of it and recently did a mea culpa)">>> I'm sure Ayn Rand is not too happy with the way Alan Greenspan "sold his soul to the devil"... .....and turned his back on "free markets" and helped engineer this fiasco thanks to the Federal Reserve manipulation and ridiculous government intervention like Fannie Mae, Freddie Mac etc. in real estate markets. She'll beat him to to pulp if he ever makes it to heaven.... ....I doubt he'll ever get there.

To: koan who wrote (92023)	12/25/2008 8:58:34 PM
From: Little Joe	2 Recommendations Read Replies (1) \| Respond to of 116555

Anyone who understands Ayn Rand would understand that any country which has a fractional reserve fiat currency banking system cannot be purely capitalistic by her meaning of the term. In my personal view we have not in my lifetime, or the lifetime of any living person had pure capitalism in America. Perhaps economically a facist system or corporate welfare system, combined with the social welfare that has existed for a long time. My take is very simple. Any fractional reserve banking system, especially with a fiat money system is bound to fail eventually. Capitalist believe, not that there won't be economic setbacks, or panics under a pure capitalist system, but they will be much more benign under capitalism than under a government controlled economy. Little joe