Quote:
Originally Posted by Robbie
Tony, I'm not talking about regulation of business either.
Gary Johnson isn't against the kind of gov. regs that you are talking about either.
But he does believe that govt. gets involved in things it should not be involved in.
And no, a "big reason for the crash" was not the deregulation of Wall St.
Stocks and bonds had nothing to do with it.
It was THE HOUSING MARKET crashing. Had nothing to do with Bush's dumb ass. It was Congress over the decades.
Doesn't it seem fucked up to you that we are discussing whether or not a bunch of bureaucrats are giving us too much freedom to do things?
Oh...they didn't "regulate" us enough.
It's kind of fucked up when you think about it.
Not saying that some oversight isn't needed...but it is kind of fucked up to think that we are at a point in society where we feel we are just too damn stupid to do things without the govt. telling us how to do it.
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Greenspans words and it did happen because of wall st, mortgages were packaged as securities with bullshit ratings.
"But on Thursday, almost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.
Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity, myself included, are in a state of shocked disbelief,” he told the House Committee on Oversight and Government Reform."
http://www.nytimes.com/2008/10/24/bu...y/24panel.html
I will take another look at Johnsons platform, I sat out the last election it bothered me but there was no one worth voting for.