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**Chode** · 03-29-2008, 05:13 PM

What's not to believe, drew? Even without two terms of the Bush Administration doing everything it could to oppose effective banking regulation, the system was designed to work for the economy of the 1920's and was already ineffective in the modern financial market.

Personally, I'm surprised that Washington is willing to accept any of the blame for the failures and abuses of the current banking system. Wow! Does this possibly mean that even NeoCons may be willing to admit that "The Market" isn't a perfect system? Of course, previous failures of the unregulated "Market" are precisely why regulation was imposed to begin with. Now, with concerns about money laundering by organized crime, terrorists, etc.(not to mention predatory lending practices, deceptive accounting, and the like) I would think the need for more effective oversight should be obvious.

03-29-2008, 05:13 PM	#3 (permalink)
Chode TSF Enthusiast Join Date: Sep 2006 Posts: 809 OS: Windows XP Pro	Re: Hooray... more power to the Fed What's not to believe, drew? Even without two terms of the Bush Administration doing everything it could to oppose effective banking regulation, the system was designed to work for the economy of the 1920's and was already ineffective in the modern financial market. Personally, I'm surprised that Washington is willing to accept any of the blame for the failures and abuses of the current banking system. Wow! Does this possibly mean that even NeoCons may be willing to admit that "The Market" isn't a perfect system? Of course, previous failures of the unregulated "Market" are precisely why regulation was imposed to begin with. Now, with concerns about money laundering by organized crime, terrorists, etc.(not to mention predatory lending practices, deceptive accounting, and the like) I would think the need for more effective oversight should be obvious. __________________ Sweet!