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what do you mean the market HAS become a casino? they ALWAYS have been a casino. day traders have been around since day one. hedge funds came along not far behind. and the stock market is just a small part of the markets, dont forget the commodities markets as well as the bond markets.
and the markets do a variety of things for this country. for instance bill gates started his company in the penny stocks part of the markets to get capital to get his company off the ground. many companies start off as proprietorships, then they decide to incorporate. sometimes they do so as a privately held company, sometimes they have grander designs and issue an IPO so that they can raise the money needed to expand their company.
the commodities markets help stabilize the price of the various commodities being sold on the markets, and they help the farmers and ranchers get at least a good minimum price for they wares.
the bond markets allow for long term loans without going through the banks.
and the derivative markets allow financial institutions to leverage their capital again to raise money for business expansion, or to loan out money to those that cant or dont want to go through a commercial bank.
with proper regulation and oversight, the markets work quite well overall, for everybody invested in the markets. its when you remove the limitations on the markets and let them run wild that you run into problems.
I believe that your last paragraph sums up what has happened to the current market system. The proper regulation and oversight has been lacking. the republicans have weakened the ability of the Govt. to inforce,and with the banking dereg. is not helpingthe system. Once Dodd Frank fully is implimented maybe things will change. I know this comment will bring some remarks but oh well its only my opinion
Yeah, shocking that a person would dare think outside the box. People are waking up to the reality that many major corporations are not serving the public interest and, especially, are not serving American national interests.
so serving the interests of the stock holders, the large majority of which are americans, is not serving american national interests? you do realize that 401(k)s are generally invested in stocks and bonds? and that many americans invest in mutual funds to create retirement funds for themselves?
Quote:
Originally Posted by Boss
I believe that your last paragraph sums up what has happened to the current market system. The proper regulation and oversight has been lacking. the republicans have weakened the ability of the Govt. to inforce,and with the banking dereg. is not helpingthe system. Once Dodd Frank fully is implimented maybe things will change. I know this comment will bring some remarks but oh well its only my opinion
dodd-frank wont do anything to repair the system. only reinstating the glass-steagle act will do that. dodd-frank on the other hand will destroy small and medium sized banks, and take a large number of small businesses with them. and it wasnt just the republicans that deregulated the financial system, the democrats had a big hand in it also, starting with the CRA, and running through clintons insistence that the glass-steagle act be gutted. the democrats also prevented the republicans from reigning in fannie mae and freddie mac during the bush years by claiming there was nothing wrong with those two companies, despite evidence to the contrary.
if we separate financial banks from commercial banks again, and reduce the amount of leverage financial banks can use in the derivatives markets, we can stabilize the banking system again, and repair the damage done.
TRANSLATED: I have not clue about Stock Markets, so I am going to go in front of thousands on the Internet and show my ignorance.
You clearly do not understand what a stock market is and what its function is.
May I recommend you drop in for a visit at the NYSE? They have an excellent visitors center. First you watch a film, narrated by Leonard Spock Nimoy, which explains everything in a very lucid manner.
You then can hang out on the observation deck and watch the action.
They have a decent gift shop with the requisite kitsch, but also some fine publications that explain the process.
Do yourself a favor and go there. Knowlege is Power, Knowledgeiskey.
Yeah, Knowledgeiskey!
You moth bitten fool living in your own little world of tangibility!
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