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Politics : BuSab -- Ignore unavailable to you. Want to Upgrade?

To: SmoothSail who wrote (11174)	12/24/2011 3:20:33 PM
From: Jorj X Mckie	4 Recommendations Respond to of 23934

Do you remember a couple of years ago when we had the energy crisis here in California? De-regulation was blamed. However, the real cause was a partial de-regulation that hamstrung the energy providers. De-regulation is not the problem. It's the complex web of dependencies from the original government intervention along witht he subsequent regulations to patch the holes. Remove one of those patches and the house of cards falls. Here's a thought...maybe we need to allow the collapse of industries that are over-regulated so that we can start over again. Would it have been better to let the banks go on for the next 10 years building up bigger and bigger card houses? We are learning the lessons slowly. The OWS crowd still thinks that the banks are the problem. The problem is in Washington DC.

To: SmoothSail who wrote (11174)	12/27/2011 2:16:12 PM
From: TimF	Read Replies (1) \| Respond to of 23934

He told me that was the beginning of the financial crisis, even though Weill denies that it played a role. What role did it play? How did it cause the crisis? How would the problems have been avoided if it had not happened? Many European countries, for instance, had already torn down the firewall between banking and insurance. Many had done so decades earlier, or never had such regulations at all. Why didn't all the problems happen a long time ago (at least in Europe)?