Originally Posted By: sinij
Originally Posted By: Derid


Which brings us to your last point - your primary fault regarding your regulatory arguments is you have yet to put forth what specific regulations should be employed and how they would work.


I previously mentioned framework of what I believe in - end limited liability, end or greatly limit corporate personhood, and punitively tax golden parachutes at confiscatory levels. If you want to discuss specifics you will have to narrow down to a couple issues.

Quote:
As the guy in that 1%er article I posted noted - "the banks have taken over the regulatory agencies, so we need more regulations!" does not exactly make much sense.


Canada, for example, has much stricter banking regulation and did not suffer meltdown, bailouts and TBTF. Don't confuse the issue of corruption with supposed ineffectiveness of regulation. You need both broad regulation and effective enforcement. Plus criminal code need to step in and stop some of the more obvious corruption that right now isn't illegal.


Canada not having a meltdown has to do with a few things, and wouldnt not have been likely to have had one regardless of regulation or lack thereof. Plus there is a huge energy boom going on there, with international money flowing in at record rates with real demand remaining high in many areas funded by a very positive trade balance whereas the USA has a drastically negative trade balance and has been relying on the financial services segment of the economy to bring in foreign currency. Foreign currency that the USA had been printing and spending in many cases that needed reinvesting and hence found its way back to the USA financial services market ( so a lot technically wasnt foreign currency, but USD owned by foreigners )

That analogy is like saying there is something wrong with the traffic light at the busiest intersection of town because it has more accidents than the traffic light on a tiny sidestreet that gets 3 cars a day but had a camera on it.

And Vuldan WTFman?

Last edited by Derid; 11/11/11 04:16 PM.
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