More Regulation Needed to Solve Financial Crisis
Posted by Mike Tennant at September 15, 2008 08:00 AM

Obama says the ongoing crisis is the result of "[e]ight years of policies that have shredded consumer protections, loosened oversight and regulation, and encouraged outsized bonuses to CEOs while ignoring middle-class Americans"; the obvious solution is more regulations.

McCain, on the other hand, says the problem is "the outdated and ineffective patchwork quilt of regulatory oversight in Washington," for which he promises reform, not abolition. Furthermore, he wants to "bring transparency and accountability to Wall Street," which can only mean additional regulations.

Once again an election promises to offer an echo, not a choice.

they will never learn that "fast money" is smarter than ALL regulations.

the game is beating the rules and regs.

remove the rules and regs and there is no game.

no laws, and no laws to mani[pulate.

no laws and no laws to break.

works for some.

let's give it a shot.

America loves to gamble, right?

Well, is it anything like prohibition?

Prohibition didn't work and it created a violent black market.

Drug war is the same way, doesn't work and created a violent black market.

SO what happens when you put a chokehold on the market?

While it's not nearly as violent, it has created a subculture of "acceptable" criminal behaviour.

yup.

my point.

that's some dark $HIT, huh?

Every few posts, wouldee and I land on the same page...