Wall Street v. Main Street Poll

Discussion in 'Politics' started by kyzr, Apr 27, 2010.

  1. kyzr
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    kyzr Gold Member

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    I watched Blankfein getting grilled for hours today for the fraud that Goldman Sachs committed on their investors. He should have been waterboarded.

    Democrats Say Goldman Sachs Fraud Suit Bolsters Case for Rules - BusinessWeek

    Some of the Republicans are still whoring for Wall Street, supporting Goldman-Sachs instead of Glass-Steagall. The democrats are putting on a good show, we'll see if they follow-thru or end up whores too.

    Take the poll to see if Wall Street or Main Street needs more government protection.
     
  2. Oddball
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    Oddball Diamond Member Supporting Member

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    I say both.

    Everyone on Wall Street isn't Enron or Goldman Sachs.
     
  3. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    The government is inept at "protecting" either.
     
  4. kyzr
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    kyzr Gold Member

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    Sorry the Poll didn't come thru. It gave me an error that one option was too long. The options were something like:

    1. Let the "free market" rule, Darwinism is a good thing.

    2. Slightly more regulations needed, like stopping "too big to fail"

    3. No action, the Great Recession is a normal cyclical event.

    4. Regulate Wall Street for the benefit of Main Street, stop derivatives and options, make Wall Street create jobs to help Main Street, or do business elsewhere.
     
  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    #4 sounds like soviet style central planning.

    No thanks. It's been tried and failed miserably.
     
  6. Paulie
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    Paulie Platinum Member

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    The options in this poll assume that the government even GIVES a fuck about main street.
     
  7. kyzr
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    kyzr Gold Member

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    Okay, I don't see any great ideas yet. Is bringing back Glass-Steagall the best we can do? It worked fine for many years. Goldman-Sachs proved that "greed" rules, the investors always get raped.

    IMHO we need Glass-Steagall on steroids. No derivatives or options, Get your ass out of the casino and start a company...hire workers.
     
  8. blastoff
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    blastoff Undocumented Reg. User

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    Wall Street or Main Street? How about Wall Street or Washington instead?

    Who created the subprime debacle, Wall Street or Washington? Who was willing to roll the dice some more regarding Fannie/Freddie, Wall Street or Washington? And the list goes on.
     
  9. Claudette
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    Claudette Gold Member

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    I agree

    Glass-Steagall worked wonderfully for years.
     
  10. Paulie
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    Paulie Platinum Member

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    Derivatives are for hedging against risk.

    Not all derivatives are bad. Mortgages packaged into bundles of securities and fraudulently rated are much different from commodity derivatives, for instance, where a company manages their risk via a much more stable instrument.
     

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