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To: Skeeter Bug who wrote (229723)	11/21/2009 12:39:09 PM
From: neolib	Read Replies (1) \| Respond to of 306849

Some did, not all. The fact that some in the organizations which went down did keep $100's M is in fact my point against you guys claiming we should have less government intervention. Your (excuse me if you don't argue this way) claims that letting the market fail rather than bailing them will reform the system fails to account for the fact that many of the crooks who caused the problem made out very well, and will in fact be happy to cause similar problems in the future. The problem you guys ignore is that there is a very great asymmetry in the financial intelligence of the parties between which funds flow in these "free market" boondoggles. GS & Co have tons of very bright but rather unethical employees, who scheme all these market innovations up. J6P, or the Norwegian villagers, whose money is "invested" by fund managers are not too bright about financial matters. This cycle can repeat quite a few times, sans some reasonable regulation. Its not a new problem, and it is not restricted to large players like GS. The American short story writer O'Henry used this as a favorite theme. Oddly enough, he wrote many of his stories about these small time grifters while serving time in prison for his own small misdeeds.