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Old 06-09-2008, 04:22 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 22,962,266 times
Reputation: 3587

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Quote:
Originally Posted by Grizzmeister View Post
With the Grizzmeister. Follow the link to an excellent article which I believe is right on target. In fact, most bipartisan economist are saying the same thing.

The Economy: Why It’s Worse Than You Think | Newsweek Inside Business | Newsweek.com
The sun will come out tomorrow. Always does. Stock market up again today. Future so bright, you gotta wear shades. Happy days are here again. A chicken in every pot, a garage in every car!
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Old 06-09-2008, 08:16 PM
 
48,507 posts, read 90,713,155 times
Reputation: 18204
Ask the peole of california how degulating electrisity has worked out.I know where it has taken effect in Texas the prices are high. There are alot of people selling the electricy but few producing it ;so competition has not worked very well. There is always someone having a skeem to make money off these type changes.It takes real oversite to make sure there is competition.Government is terrible at that.
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Old 06-09-2008, 08:59 PM
 
3,144 posts, read 7,955,420 times
Reputation: 895
Quote:
Originally Posted by KevK View Post
The sun will come out tomorrow. Always does. Stock market up again today. Future so bright, you gotta wear shades. Happy days are here again. A chicken in every pot, a garage in every car!
Only for the responsible people... actually the sun has been out the whole time for them with a passing cloud here and there.
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Old 06-09-2008, 09:23 PM
 
23,629 posts, read 43,666,189 times
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Quote:
Originally Posted by tallrick View Post
Yet that is the environment that the United States had the most innovation. The problem now is that the whole system is regulated, and that cannot change without starting over.
I believe the following is the case:

- Enron happened because they deregulated the energy biz. The blackouts in CA and near bankruptcy of that state due were due to energy brokers intentionally manipulating power supplies. (I think oil is now "in play" on Wall Street too, so don't forget to bend over at the pumps and thank the 'free' market for that swell favor, bend over real far for hi-test).

- Mortgage meltdown happened because there was NO oversight of these risky mortgages and subsequent packaging.

- Airlines have been going broke and service worsening since deregulation in the late 1970's, no longer any minimum price levels, so they offer money-losing fares to drive the other guys out of business and end up driving both the other airlines and themselves out of business. Fare wars weren't possible when the CAB had a "rate floor" under the fares.

- S&L scandal and bailout in the 1990-94 timeframe because they loosened the reins on S&L's.

Truth is there needs to be minimal standards and regulatory oversight to prevent the abuses and horrors of totally unregulated white knuckle free market dealings. Every time they let Wall Street loose in the hen house, YOU get plucked.
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Old 06-09-2008, 10:17 PM
 
Location: Sacramento
13,938 posts, read 25,276,312 times
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Quote:
Originally Posted by KevK View Post
The sun will come out tomorrow. Always does. Stock market up again today. Future so bright, you gotta wear shades. Happy days are here again. A chicken in every pot, a garage in every car!
Pretty much sums up my sentiments, except I really do mean this!
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Old 06-09-2008, 10:20 PM
 
Location: Sacramento
13,938 posts, read 25,276,312 times
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Quote:
Originally Posted by Mike from back east View Post
Truth is there needs to be minimal standards and regulatory oversight to prevent the abuses and horrors of totally unregulated white knuckle free market dealings. Every time they let Wall Street loose in the hen house, YOU get plucked.
We may not agree on some of the specifics, but I completely agree that there needs to be appropriate oversight and regulations. Regarding the mortgage problems, I look at S&P and Moody's as the main culprits. They are responsible for critically evaluating risk in bond packages for investors, to assure appropriate risk ratings and pricing. They failed to do their jobs.
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Old 06-09-2008, 11:05 PM
 
Location: Assisi, Italy
1,845 posts, read 4,042,608 times
Reputation: 354
Quote:
Originally Posted by NewToCA View Post
We may not agree on some of the specifics, but I completely agree that there needs to be appropriate oversight and regulations. Regarding the mortgage problems, I look at S&P and Moody's as the main culprits. They are responsible for critically evaluating risk in bond packages for investors, to assure appropriate risk ratings and pricing. They failed to do their jobs.
New I agree. Why are these guys still in business? Their ratings are worthless.

But we all have some blame. RE agents, loan brokers, lenders and all the little people in between starting the little old ladies in the late 90's at Starbucks speaking loudly about how much value their kids home went up over the last six months. We all should have known better, but greed and denial were taking the place of common sense.
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Old 06-09-2008, 11:19 PM
 
69,360 posts, read 59,949,853 times
Reputation: 9374
Quote:
Originally Posted by KevK View Post
The sun will come out tomorrow. Always does. Stock market up again today. Future so bright, you gotta wear shades. Happy days are here again. A chicken in every pot, a garage in every car!
You had me up until the point you claimed a garage in every car.

I had difficulty enough dealing with parking my car in the 8 car garage, now you want to park the 8 car garage in the car
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Old 06-10-2008, 07:06 AM
 
Location: Londonderry, NH
41,479 posts, read 55,606,538 times
Reputation: 24770
Feed more pot to the chickens. They are beginning to catch on and we do not want a chicken revolt.
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Old 06-10-2008, 07:12 AM
 
Location: Washington DC
5,915 posts, read 7,632,538 times
Reputation: 954
Quote:
Originally Posted by NewToCA View Post
We may not agree on some of the specifics, but I completely agree that there needs to be appropriate oversight and regulations. Regarding the mortgage problems, I look at S&P and Moody's as the main culprits. They are responsible for critically evaluating risk in bond packages for investors, to assure appropriate risk ratings and pricing. They failed to do their jobs.
Amen to that they should be at the bar for rating those securities as investment grade. They should have been unrated junk all along. S&P, Moody, and Fitch have a horrible conflict of interest. They are paid by the issuer to rate securities. I think there's fraud involved and I'd like to see the rating agencies blistered.
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