Keynes VS Hayek

[marharth]

I would also point out that the banks DID crash, and a boatload of folks lost some huge piles of money. Who was hit the hardest? The average Joe. The rich guys at the banks that caused all the trouble got government bailouts. And that was with some regulation in place.

 

Ideally, the banks that crashed would have been left to their own devices. Yeah, the economic fallout from that decision would have been worse initially, but, then we would have seen some REAL change in the system, and not the half-hearted attempts at 'regulating' wall street. What is the point of risk avoidance, if you know the government will bail you out when you screw up?

Regulating wall street would never work, everyone single politician is owned by someone on wall street.

 

I don't see financial reform working in our current system, other corporations may be able to be regulated though.

[HeyYou]

I would also point out that the banks DID crash, and a boatload of folks lost some huge piles of money. Who was hit the hardest? The average Joe. The rich guys at the banks that caused all the trouble got government bailouts. And that was with some regulation in place.

 

Ideally, the banks that crashed would have been left to their own devices. Yeah, the economic fallout from that decision would have been worse initially, but, then we would have seen some REAL change in the system, and not the half-hearted attempts at 'regulating' wall street. What is the point of risk avoidance, if you know the government will bail you out when you screw up?

Regulating wall street would never work, everyone single politician is owned by someone on wall street.

 

I don't see financial reform working in our current system, other corporations may be able to be regulated though.

 

That is very true. Wall Street has more control over what happens in washington, than the members of congress do. :D Are we having fun yet?

[marharth]

I would also point out that the banks DID crash, and a boatload of folks lost some huge piles of money. Who was hit the hardest? The average Joe. The rich guys at the banks that caused all the trouble got government bailouts. And that was with some regulation in place.

 

Ideally, the banks that crashed would have been left to their own devices. Yeah, the economic fallout from that decision would have been worse initially, but, then we would have seen some REAL change in the system, and not the half-hearted attempts at 'regulating' wall street. What is the point of risk avoidance, if you know the government will bail you out when you screw up?

Regulating wall street would never work, everyone single politician is owned by someone on wall street.

 

I don't see financial reform working in our current system, other corporations may be able to be regulated though.

 

That is very true. Wall Street has more control over what happens in washington, than the members of congress do. :D Are we having fun yet?

The question really is, if regulation somehow could happen would it be good or bad to have?

[HeyYou]

I would also point out that the banks DID crash, and a boatload of folks lost some huge piles of money. Who was hit the hardest? The average Joe. The rich guys at the banks that caused all the trouble got government bailouts. And that was with some regulation in place.

 

Ideally, the banks that crashed would have been left to their own devices. Yeah, the economic fallout from that decision would have been worse initially, but, then we would have seen some REAL change in the system, and not the half-hearted attempts at 'regulating' wall street. What is the point of risk avoidance, if you know the government will bail you out when you screw up?

Regulating wall street would never work, everyone single politician is owned by someone on wall street.

 

I don't see financial reform working in our current system, other corporations may be able to be regulated though.

 

That is very true. Wall Street has more control over what happens in washington, than the members of congress do. :D Are we having fun yet?

The question really is, if regulation somehow could happen would it be good or bad to have?

 

Well, given that any such regulations would be written by congress........ that is a very valid question..... they haven't shown a great deal of intelligence lately, I think it's too much to hope for that to suddenly change...

 

Quite frankly, I have not a clue just what that regulation would look like.... and no matter how 'air tight' congress thought it was written, there would be someone making sure there were built in 'holes' to drive a dumptruck thru..... or, that the agency responsible for enforcing said regulations, would have no authority......