Shhh, do it quick, in, out, and away with the loot....Welcome to Deregulated Capitalism.

POSTED BY: chrisisall
UPDATED: Wednesday, September 17, 2008 22:03
VIEWED: 528
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CHRISISALL

Wednesday, September 17, 2008 5:51 PM

If the governments don't step in and make the 'deciders' pay for hurting the world markets (like they would), then there's no negative incentive to be irresponsible...oooohhh, they 'ousted' some insanely wealthy CEOs for a job not-so-well done, hows that more than a wink & a 'have fun in the Bahamas' to those guys?

?isall

JONGSSTRAW

Wednesday, September 17, 2008 7:17 PM

Every time something has been de-regulated, or even non-regulated the result has been a disaster.

From the 1929 big crash caused by margin calls with no equity behind them to the Enron scam of cooking the books with crooked accountants, to today's mortgage meltdown...it all points to the same conclusion. There are dis-honest and greedy people out there. When their actions negatively influence an entire nation it becomes a national security issue. They solved the corporate fiscal transparancy issue with Sarbanes-Oxley, and now they need to set fair and reasonable guidelines for future mortgages and credit lines. There used to be something called collateral, but the only time that term is used anymore is when we blow up some kids somewhere.

CHRISISALL

Wednesday, September 17, 2008 7:55 PM

Quote:
Originally posted by Jongsstraw:
They solved the corporate fiscal transparancy issue with Sarbanes-Oxley, and now they need to set fair and reasonable guidelines for future mortgages and credit lines.

Just like we have lanes for driving in, else we'd have a commuter meltdown of similar proportions every rush hour.

Chrisisall

KWICKO

Wednesday, September 17, 2008 10:03 PM

Quote:
Originally posted by Jongsstraw:
Every time something has been de-regulated, or even non-regulated the result has been a disaster.

From the 1929 big crash caused by margin calls with no equity behind them to the Enron scam of cooking the books with crooked accountants, to today's mortgage meltdown...it all points to the same conclusion. There are dis-honest and greedy people out there. When their actions negatively influence an entire nation it becomes a national security issue. They solved the corporate fiscal transparancy issue with Sarbanes-Oxley, and now they need to set fair and reasonable guidelines for future mortgages and credit lines. There used to be something called collateral, but the only time that term is used anymore is when we blow up some kids somewhere.

Jongs, on many, many things you and I don't get along, and probably never will, but when you're right, you're damned well right, and in this instance, I couldn't agree more with what you've said.

Heard a financial analyst talking about AIG's bailout today on NPR, and found it very interesting when he said (I'll paraphrase, since I don't have his exact words handy), "In America, we privatize profits and gains, but we socialize losses." In other words, no one wants the government to step in and take over when the market's going gangbusters, only when it tanks and pulls all those greedy scum into the whirlpool and threatens to take them all down with it.

Mike

This world is a comedy for those who think, and a tragedy for those who feel.