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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: pstuartb who wrote (263913)	7/25/2010 6:27:27 PM
From: koan	Read Replies (3) \| Respond to of 306849

Greenspan was an Ayn Rand no regulations advocate. He was not a Keynsian!? For 30 years the neo cons have followed ayn Rands no regulation theory. Well, it is what casued the financial collapse in Sept 08 when all markets froze up overnight because no bank trusted another banks CDO collateral. No ability to mark to market. The libor soared to 4%!! Financial collapse was on the horizon as the banks and AIG had lost trilllions of dollars gambling with CDO's and CDS's and making no doc loans! No doc loans, no regulation. It failed. Now the Keynsians are trying to put the egg back together but the damage of Ayn Rands, "greed is good" bullshit was so severe with bush doubling the deficit, on top of the collapse, government maybe too far in debt to do much. Two unfunded wars, trillions in tax cuts for the rich and unpaid for medicare drugs for big pharma. Alice in wonderland shit. Unregulated corporations, sure so they can dump mercury in the rivers?? Sell rotton meat without regulations?