Comments on: Molly and Dingell Had it Right

By: carol corbitt

carol corbitt — Fri, 03 Oct 2008 20:06:01 +0000

Don’t you know it’s those pesky poor people getting all those mortgages that caused all the problems. What I see are people who were not poor, overextending themselves buying (or building) more and more houses, pushing up the prices beyond what was in any way reasonable. Across the street from me is a tiny old cottage that sold in the past for less that $100,000 and was overpriced at that. It sold last year for $350,000. It is only big enough for 2 people who are very friendly. No working person in town could even begin to afford it.

By: wild

wild — Wed, 01 Oct 2008 06:35:59 +0000

Fed Reserve floods & continues to flood money. Fed Reserve holds Prime Rate extremely low. Exec. Branch continues extreme war expenditures. Exec. Branch continues timid ‘financial’ regulation. Legislature legalizes systemwide business loopholes. Legislature will try another ‘rescue plan’ which will continue to be the basic 700b swindle, only with some ‘new’ parameters. Corporations have systemically implemented, and TAUGHT their employees ‘anything goes’ other than business conducted honourably. You don’t pay a guy 130million a year, unless he is able to resort to the very lowest of tactics.

And last but not least…Carve yourself a golden calf and see it still standing in Wall Street to this day. They get on there knees & worship it. Seems like I’ve heard that warning also.

wild

By: John Washburn

John Washburn — Tue, 30 Sep 2008 18:54:32 +0000

Ms. Ivins was correct on the effects of the changes to the regulations.

But, the “deregulation” in 1995 was not actually deregulation. It was changing the regulations of a highly regulated market. If there was true regulation then you and I could create an honest bank which offers only two products:
1) Demand deposits with 100% reserves and charged a Vault Storage Fee of 0.5% per annum.
2)Certificates of deposit for time spans ranging of 1 week to 30 years with stiff penalties for early withdrawl, but which can be legitimately lent out to borrowers.
3) Accept only gold, silver or other specie in order to avoid the entanglements of the federal reserve system and the FDIC; ie. Take the king’s federal reserve note, dance to the king’s regulations.

You know such a “bank” while honest and immune from a bank run would be shut down as illegal. Even if the “bank” prominently and boldly displayed a banner “NOT FDIC insured and damned proud of it.” on every door, window, and piece of paper it printed.

Until such a bank can be created (probably on an Indian reservation) there is no bank deregulation, there is only varying levels of regulation. There is no free market only a highly regulated one.

By: stormkite

stormkite — Tue, 30 Sep 2008 16:15:24 +0000

Those who fancy themselves exempt from the lessons of history will repeat them until they learn better.

Unfortunately, they will screw the rest of us in the process.

By: Hubert Wilson

Hubert Wilson — Tue, 30 Sep 2008 14:58:41 +0000

Professor George W. Bush

One of the great tragicomics
Taught eight years of CRASH economics!

A FULL of it PROFESSOR