That would be called PROOF that extreme regulation doesn't prevent problems. Maybe it's time to look in the other direction.

http://news.yahoo.com/s/ap/20081007/ap_o...SfcVEV6w8F

http://www.sharecast.com/cgi-bin/shareca...id=2378371

http://www.reuters.com/article/marketsNe...1020081006

DrTorch Wrote:That would be called PROOF that extreme regulation doesn't prevent problems. Maybe it's time to look in the other direction.

QFT.

DrTorch Wrote:That would be called PROOF that extreme regulation doesn't prevent problems. Maybe it's time to look in the other direction.

http://news.yahoo.com/s/ap/20081007/ap_o...SfcVEV6w8F

http://www.sharecast.com/cgi-bin/shareca...id=2378371

http://www.reuters.com/article/marketsNe...1020081006

The US would be called PROOF that deregulation doesn'tprevent problems. What we need is SOME regulation but not OVER regulation.

RobertN Wrote:The US would be called PROOF that deregulation doesn'tprevent problems. What we need is SOME regulation but not OVER regulation.

I can live w/ that. Just enough regulation to facilitate proper oversight. Both of which are based on principles of free-market and fairness.

RobertN Wrote:

DrTorch Wrote:That would be called PROOF that extreme regulation doesn't prevent problems. Maybe it's time to look in the other direction.

http://news.yahoo.com/s/ap/20081007/ap_o...SfcVEV6w8F

http://www.sharecast.com/cgi-bin/shareca...id=2378371

http://www.reuters.com/article/marketsNe...1020081006

The US would be called PROOF that deregulation doesn'tprevent problems. What we need is SOME regulation but not OVER regulation.

It's a balance.

the truth is, part of our system needs more Regulation and others need to be deregulated.

obviously, with Fannie/Freddie(if we are forced to have a quasi-govt/private outfit, i.e. Fascism) then it needs to be regulated and not used the way it was. What McCain and bush tried to do(regulate it more) and was blocked by the Dems in committee.

Mortagages are the root of the problem, but its much more complicated than that. The Economy could handle 200 billion in bad mortgages, I wish that was the only problem. and the source of those loans, who bullied them to be made, etc. is a whole other topic. However, the mortagages being bought, packaged and resold is the larger problem, that is what turns it into a Multi-Trillion dollar problem. Thank you Derivative contracts.

Great timing for the Socialist too huh, for these Credit Default Swaps to be wreaking havoc a month out from the election. Buffet called these contracts "Weapons of Financial Mass Destruction" for a reason.

They are Private contracts too, so No Regulations(yet). Which this would be an area we need some. But they have to stop issuing Risky loans, mortgages to Illegal aliens. Letting groups like ACORN bully their way into being made, etc.

Barney Frank and Chris Dodd should be resign in disgrace.

GGniner Wrote:They are Private contracts too, so No Regulations(yet).

If I understand what you're saying, you already got it.
http://www.baltimoreexaminer.com/opinion..._balt.html

Quote:First, Section 109 of the bailout law grants the secretary of the Treasury the authority to negate private mortgage contracts that were lawfully entered into by all parties. This “foreclosure mortgage mitigation” authority includes ordering “term extensions, rate reductions, principal write-downs, increases in the proportion of loans within a trust or other structure allowed to be modified, or removal of other limitation on modification.” Section 110 of the law gives similar authority to other federal agencies.

Quote:Barney Frank and Chris Dodd should be resign in disgrace.

Barney Frank was pretty vocal and hostile to 24 hr news when the bailout was being discussed. He's proud of his body of work.

yeah, I don't fully understand the bailout and haven't taken time to read it, but I hope it addresses the CDS contracts atleast. For 700 Billion it sure as heck better. When conservatives like Steve Forbes and Tom Coburn came out in favor of it, it got my attention.

scary times, I'd like to know who the speculators are who bought these things and wrecking our economy right now? Ben Stein said basically they were able to buy a 50k Cadillac and have it ensured for $2 Million(his comparison) on how these things work.

its either some kind of coincedence(with timing) or something odd is going on out there.


I think McCain's Populist proposal to buy up all the bad debt and effectively make it Good is an attempt to keep these CDS contracts from wreaking total havoc