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I agree with that statement. But further, there were new risks to the system from new investment products (both CDSs and CDOs were first used in the 1980s) that the Commodity Futures Modernization Act left largely unregulated.
Verily. Consider the gaping loopholes of the Commodity Futures Modernization Act of 2000? & the reluctance to close even after the natural consequences of its failure to regulate the toxic financial products created? An almost stubborn insistence these derivative-based products would not prove to be toxic. Basically, the FIRE sector saying, 'you're not the boss of me' & claims of 'doing God's work'. Sheeesh.
I think so, some are just afraid to admit it as it will damage their ideology. One side can't admit that the big government failed them miserably and the other can't admit that the system is nothing but corrupt without draconian regulations.
Trumps wants banks to s c r e w you as much as they can and help create another another economy crash great Another reason he might be trying to do this is he wants to get loans again from US banks
You're against everything so what else is new. When you move out on your own, you'll find out that things aren't like what's written in The Nation, or on MSNBS.
See you on TV at the next protest.
The majorities depending on which major party they support.
Oh. Thought you might be referring to that mystical principle of the 'invisible hand': that each individual in pursuing his own selfish good was led, as if by an invisible hand, to achieve the best good for all.
Oh. Thought you might be referring to that mystical principle of the 'invisible hand': that each individual in pursuing his own selfish good was led, as if by an invisible hand, to achieve the best good for all.
Lol. I suppose some are but not enough to ignore the rest.
"oh...you thought I meant we were just going to Make America Great Again....let me tell you ....and nobody else will admit it....but let me tell you.....we're gonna make the Great Depression Great again!....Those 1930's won't know what hit them...I know A LOT about the Great Depression...a whole lot....and I'll tell ya....Trump's Great Depression is going to be Greater and Depressionier than ever...you won't even believe it!"
It was well known what they were doing. The government, the bankers, the regulators were all in bed together.
Individual government representatives, individual bankers & individual regulators were all pursuing their own best interests, is that right?
Quote:
Originally Posted by ChiGeekGuest
Oh. Thought you might be referring to that mystical principle of the 'invisible hand': that each individual in pursuing his own selfish good was led, as if by an invisible hand, to achieve the best good for all.
Did someone forget to say 'abracadabra'? Is that why the magical principle didn't work?
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