We should all agree with this!

[EdwardBaiamonte]

they bought into the argument that the market would equilibrate itself.

that is because the free market is self-correcting if there is no liberal interference. That is why for example you don't have too many or too few banannas in your supermarket. Each store is different and adjusts supply and price to meet demand . It does this every day all year, and the same thing happens for millions and million of products in a free market. In the USSR you had no banannas or millions of pounds rotting on the shelves because of central liberal control.

Central soviet control is what liberals want in housing rather than freedom as if the soviets or USA could someday have good central control.

Also, notice how dad3 lacks the IQ to counter argue. Instead he just changes subject with a new cut and paste?

 

[Dad2three]

they bought into the argument that the market would equilibrate itself.

that is because the free market is self-correcting. That is why for example that you don't have too many or too few banannas in your supermarket. Each store is different and adjusts supply and price to meet demand. It does this every day all year, and the same thing happens for millions and million of products in a free market. In the USSR you no banannas or millions of pounds rotting on the shelves because of central control.

Central soviet control is what liberals want in housing rather than freedom as if the soviets or USA cane someday have good central control.

Also, Notice how dad3 lacks the IQ to counter argue. Instead he just changes subject with a new cut and paste?

Yes, THAT'S why the WORLD WIDE CREDIT BUBBLE HAPPENED. Because the markets worked so well *shaking head*

 

[EdwardBaiamonte]

Yes, THAT'S why the WORLD WIDE CREDIT BUBBLE HAPPENED. Because the markets worked so well *shaking head*

dear, markets did not work well because there was massive soviet liberal interference. Free markets are self-adjusting not soviet liberal markets. Do you understand now?

 

[EdwardBaiamonte]

Fuck you and the other asshole who thanked you for your partisan Idiot-Gram.

If you can say why you disagree please try to.

I don't have to try to, your post was a partisan piece of crap as well as an ad hominem.

translation: I don't have to try because as a liberal I lack the IQ for it. If not I'd love nothing more than to show you where you are mistaken and full of it!!

 

[Dad2three]

Yes, THAT'S why the WORLD WIDE CREDIT BUBBLE HAPPENED. Because the markets worked so well *shaking head*

dear, markets did not work well because there was massive soviet liberal interference. Free markets are self-adjusting not soviet liberal markets. Do you understand now?

Got it, markets need to have the MYTHICAL 'free hand' in order for them to work properly, lol

YOU are crazy, dumb AND not honest. The trifecta for conservatives...

 

[Rshermr]

Yes, THAT'S why the WORLD WIDE CREDIT BUBBLE HAPPENED. Because the markets worked so well *shaking head*

dear, markets did not work well because there was massive soviet liberal interference. Free markets are self-adjusting not soviet liberal markets. Do you understand now?

Got it, markets need to have the MYTHICAL 'free hand' in order for them to work properly, lol

YOU are crazy, dumb AND not honest. The trifecta for conservatives...

Yeah, but as economist have told us, we could well have had a new great republican depression relying on the invisible hand that conservatives believe in. But then, they believe in big foot, also. Poor sad clowns.
But they believed in the invisible hand in 1929 through march of 1933 as they giddily watched unemployment rate go from under 5% to over 23%. That invisible hand was really working well then, too. And they still have no idea why that hand is invisible.

 

[EdwardBaiamonte]

Got it, markets need to have the MYTHICAL 'free hand' in order for them to work properly, lol

YOU are crazy, dumb AND not honest. The trifecta for conservatives...

why do you call it mythical when China just unleashed Adam's Smith's "invisible hand" { not free hand} and instantly saved 50 million people from en masse lliberal starvation? Ever heard of East/West Germany? See why we have to be 100% positve that liberalism is based in pure ignorance?

 

[EdwardBaiamonte]

But they believed in the invisible hand in 1929 through march of 1933 as they giddily watched unemployment rate go from under 5% to over 23%.

Friedman and Bernanke are perhaps two greatest experts on Depression and they agree it was caused by govt interference, specificially , by letting money supply which Fed controlled drop by 33%. Time to grow up?

 

[Dad2three]

But they believed in the invisible hand in 1929 through march of 1933 as they giddily watched unemployment rate go from under 5% to over 23%.

Friedman and Bernanke are perhaps two greatest experts on Depression and they agree it was caused by govt interference, specificially , by letting money supply which Fed controlled drop by 33%. Time to grow up?

'Friedman and Bernanke are perhaps two greatest experts on Depression '

LMAOROG

 

[Quantum Windbag]

Warren, McCain: Rein in 'too big to fail' banks - CNN.com

"The big Wall Street banks continue to hum along as they did before the crisis -- too big to fail and, in many cases, potentially exposing the economy to the risk of systemic failure"

..."five years after the crash, the big banks are more concentrated and more interconnected and their appetite for excessively risky behavior is unchanged. The biggest banks are substantially bigger than they were in 2008. In fact, the five biggest banks now control more than half the nation's total banking assets."

"That's why we co-sponsored the 21st Century Glass-Steagall Act. The Act, which we first introduced a year ago last week, would separate traditional banks that offer checking and savings accounts from riskier financial services, such as investment banking and swaps dealing."

See link for full article. Poll to follow.

Why should I agree to it? It won't do anything to eliminate the risks that were built into the system after Obama signed the Dodd-Frank Wall Street Reform and Consumer Protection Act.

 

[jasonnfree]

It's true that Glass-Steagall needs to be reinstated and updated for the 21st Century. Regulation has to be extended to more than just banks, but to other lenders and Wall Street. But that requires hiring and paying regulators for banking and SECand other regulatory agencies.

absolutely, and we can get tons of ex soviet or VA regulators!! It will be like magic. We'll have good regulation and no more problems!! And to be safe we can have regulators to regulate the regulators.

A liberal will simply lack the IQ to know that capitalism provides the most rigorous regulations. In fact capitalist consumers bankrupt 10,000 companies a month!

By all means let the banks regulate themselves. Industry too. And they pay billions to lobbyists to influence politicians to go along with this idea. They are being 100% patriotic, what's good for mankind and with no thought of profiting by it. At least in the world according to Ed.

 

[jasonnfree]

Got it, markets need to have the MYTHICAL 'free hand' in order for them to work properly, lol

YOU are crazy, dumb AND not honest. The trifecta for conservatives...

why do you call it mythical when China just unleashed Adam's Smith's "invisible hand" { not free hand} and instantly saved 50 million people from en masse lliberal starvation? Ever heard of East/West Germany? See why we have to be 100% positve that liberalism is based in pure ignorance?

West Germany is doing pretty well. Semi socialist and investing in clean energy. Unions, National health care and all. I'll stop so you can get some garlic and a holy cross, maybe a wooden stake and a mallet too.

 

[Manonthestreet]

John Corzine wasn't prosecuted. The Fed wasn't audited. It's easy to introduce a Bill you KNOW won't get passed.

Or enforced if it did

 

[Rshermr]

Got it, markets need to have the MYTHICAL 'free hand' in order for them to work properly, lol

YOU are crazy, dumb AND not honest. The trifecta for conservatives...

why do you call it mythical when China just unleashed Adam's Smith's "invisible hand" { not free hand} and instantly saved 50 million people from en masse lliberal starvation? Ever heard of East/West Germany? See why we have to be 100% positve that liberalism is based in pure ignorance?

West Germany is doing pretty well. Semi socialist and investing in clean energy. Unions, National health care and all. I'll stop so you can get some garlic and a holy cross, maybe a wooden stake and a mallet too.

Have you heard that ed is such an economics expert that he was offered a full teaching job at a prestigious school?? First in the third grade of this elementary school. Problem was the students recognized that ed had no actual knowledge of any kind. So then, they put him in charge of an economics class for kinder garden students, but they too recognized that something was wrong with ed. Even they knew he was an impostor. Now, they are looking for a position as head of creative economics, but no one wants to attend the class. So they are looking at raiding US Messageboard for students. Cause there are enough ignorant about economics there to fill a class. And they love what ed has to say.

 

[Dad2three]

why do you call it mythical when China just unleashed Adam's Smith's "invisible hand" { not free hand} and instantly saved 50 million people from en masse lliberal starvation? Ever heard of East/West Germany? See why we have to be 100% positve that liberalism is based in pure ignorance?

West Germany is doing pretty well. Semi socialist and investing in clean energy. Unions, National health care and all. I'll stop so you can get some garlic and a holy cross, maybe a wooden stake and a mallet too.

Have you heard that ed is such an economics expert that he was offered a full teaching job at a prestigious school?? First in the third grade of this elementary school. Problem was the students recognized that ed had no actual knowledge of any kind. So then, they put him in charge of an economics class for kinder garden students, but they too recognized that something was wrong with ed. Even they knew he was an impostor. Now, they are looking for a position as head of creative economics, but no one wants to attend the class. So they are looking at raiding US Messageboard for students. Cause there are enough ignorant about economics there to fill a class. And they love what ed has to say.

Many people I listen to who say they are conservatives don't have two cents to scratch their a*s with, and here's the funny part most of them don't even have health insurance, not because they choose not to have it, but because they can't afford it, or simply because they can't get it because of current state of health, and they still defend the system.......truly pathetic!!!

 

[Shanty]

But they believed in the invisible hand in 1929 through march of 1933 as they giddily watched unemployment rate go from under 5% to over 23%.

Friedman and Bernanke are perhaps two greatest experts on Depression and they agree it was caused by govt interference, specificially , by letting money supply which Fed controlled drop by 33%. Time to grow up?

Funny, because that's the exact opposite argument of the conservatives today.

Frankly, Friedman is not one I'd look to for guidance on the Great Depression. And Bernanke didn't say that government interference caused it. If anything, Bernanke would point to the lack of a strong system of oversight of financial and stock markets.

 

[Nemo]

The problem is regaining regulatory control over banking and financial markets. What happened was a change in government policy for regulation of banking entities. It started with the Gramm-Leach-Bliley Act of 1999 that repealed the restrictions Glass-Steagal on banking enacted in the wake of the Great Depression; and the enactment of the “safe harbor” provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which exempted financial derivative contracts from administration in bankruptcy. See 11 U.S.C. § 546(e). This paved the way for banks and their parent companies to trade in derivatives on financial markets with legal immunity for the counterparties of these financial contracts.

The question is whether allowing banks to trade in financial derivative contracts is a good thing. It is not, witness the subprime mortgage debacle that triggered the stock market crash of 2008, bank failures and government bailout. There cannot be unregulated banking. Banks should be prohibited from speculating on high-risk securities (i.e., derivatives) - including trading their own debt securities - on the financial markets. The banking lobby’s argument that the banks should be given carte blanche to trade in financial derivative contracts to be competitive in world markets belies the responsibility for the risk of loss to be borne by the government, and, ultimately, the taxpayer; not to mention that derivatives are traded “over the counter” and carried “off balance sheet”, which undisclosed transactions violate all rules of bank accountability. Without a regulated banking system, there can be no security for commerce, financial collapse and economic chaos.

 

[The Rabbi]

The problem is regaining regulatory control over banking and financial markets. What happened was a change in government policy for regulation of banking entities. It started with the Gramm-Leach-Bliley Act of 1999 that repealed the restrictions Glass-Steagal on banking enacted in the wake of the Great Depression; and the enactment of the “safe harbor” provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, which exempted financial derivative contracts from administration in bankruptcy. See 11 U.S.C. § 546(e). This paved the way for banks and their parent companies to trade in derivatives on financial markets with legal immunity for the counterparties of these financial contracts.

The question is whether allowing banks to trade in financial derivative contracts is a good thing. It is not, witness the subprime mortgage debacle that triggered the stock market crash of 2008, bank failures and government bailout. There cannot be unregulated banking. Banks should be prohibited from speculating on high-risk securities (i.e., derivatives) - including trading their own debt securities - on the financial markets. The banking lobby’s argument that the banks should be given carte blanche to trade in financial derivative contracts to be competitive in world markets belies the responsibility for the risk of loss to be borne by the government, and, ultimately, the taxpayer; not to mention that derivatives are traded “over the counter” and carried “off balance sheet”, which undisclosed transactions violate all rules of bank accountability. Without a regulated banking system, there can be no security for commerce, financial collapse and economic chaos.

You're an idiot.
Banks literally have regulators sitting in their offices every day telling them what they can and cannot do.
Deregulation of banks. What bullshit. If we actually deregulated them we wouldn't have issues of government bail outs.

 

[Nemo]

That's not correct. The powerful banking lobby has been working night and day to have the restrictions on proprietary trading under the Volcker Rule repealed (viz. S.1861 - Taxpayer Protection and Responsible Resolution to enact a new Chapter 14 proceeding under title 11 for insolvent banks and large financial entities and repealing title II of Dodd-Frank). If the banks have their way, it will be back to gambling on the stock market; and what happened in 2008 will surely happen again.

 

[The Rabbi]

That's not correct. The powerful banking lobby has been working night and day to have the restrictions on proprietary trading under the Volcker Rule repealed (viz. S.1861 - Taxpayer Protection and Responsible Resolution to enact a new Chapter 14 proceeding under title 11 for insolvent banks and large financial entities and repealing title II of Dodd-Frank). If the banks have their way, it will be back to gambling on the stock market; and what happened in 2008 will surely happen again.

Right, there has been no deregulation. So your post is wrong. Banks are among the most regulated entities out there, more so after Dodd Frank.
The issue is the implicit government guarantee that banks will remain solvent no matter what. Why shouldn' tthey gamble? Heads they win, tails we lose.