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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: NOW who wrote (111745)	5/18/2010 7:31:04 AM
From: Little Joe	Respond to of 116555

This is what you wrote: "think you got that backwards: Our financial industry has been corrupted by the mismanagement of our money by the government" I think that the unintended consequence of the various injections of money into the economy, largely by Greenspan (Although current Fed Policy does not seem to have changed)was to create Bad Money, which in turn created large scale misallocation of resource and created a situation where instead of money being invested productively it was invested in non productive get rich quick schemes. The erosion of Moral Hazard by government policies such as government loan guarantees exacerbated the problem tremendously. lj