Government Regulation And The Financial Crisis
I’m not against the Federal Reserve (well, maybe a little), but I am against the overregulation and meddling that know-nothing politicians force on our economy, usually to benefit “the poor”, and it ends up helping unscrupulous businessmen who often times are former or soon-to-be government functionaries. All of the boondoggles foisted upon the public out of guilt and a “need to do something, anything” end up biting us in the ass, and I’m sick of it. This is one of the reasons why I don’t like any of the popular politicians because they will just keep going with the poor policy choices and looting of the treasury that’s been going on for so many decades.
Regulation is inevitable, but pushing policy on quasi-gov’t agencies, which then force a whole financial system to go into paroxysms is completely unacceptable. Check out this: http://norris.blogs.nytimes.com/2008/09/27/wall-street-says-thanks/ and follow the link to read the whole thing. Hell, here’s the link to the whole thing: http://bigpicture.typepad.com/comments/2008/09/uncle-sam-the-e.html — and here’s the PDF: http://bigpicture.typepad.com/comments/files/a_memo_found_in_the_street.pdf
And if you dare to delve into the true gloom and doom, check out Nouriel Roubini’s site: http://www.rgemonitor.com/blog/roubini/
