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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (126840)12/9/2009 9:05:30 PM
From: Dale Baker  Read Replies (3) | Respond to of 540836
 
When securitization was done properly and responsibly, it was a tremendous boon to the credit markets in many sectors from mortgages to credit cards to car loans and the rest. That's all integral to US economic growth in recent decades.

The trick is, when the markets step in to match up capital with a need for capital, it has to be regulated and controlled to insure that greed doesn't erase the normal market constraints imposed by risk.

I had hoped that the new financial reform legislation might reflect that. But between special interests and most congressmen being raging assholes, I have very low expectations for might finally be passed.



To: Sam who wrote (126840)12/9/2009 9:32:14 PM
From: JohnM  Read Replies (1) | Respond to of 540836
 
My guess is the former.

Shame, I suspect, is a rather rare experience in those climes.

My biggest disappointment with Obama is that he isn't listening to Volcker.

One of mine as well. We seem to be headed for something like a Clinton presidency. Not as bad as it could be, but certainly nowhere near what we need.


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