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[richardaberdeen]

There are other factors that influence the stability of our economy, among them the horrendous cost of the Vietnam War, which is WHY the economy was bad under Carter and now the Cost of Iraq is likewise adding to our pile of economic misery. I don't care how many degrees someone has in science, history or anything else. Degrees have no relevancy to what is true and, what is not true.

[richardaberdeen]

Whether or not you have a degree in history does not change the established facts that prior to regulating Wall Street and the banks, there was a major depression. And, after the banks and Wall Street was regulated, our economy became much more stable. Wars such as Vietnam helped to destablize it but it remained basically stable until Reagan began a series of significant deregulation, which Bush, Clinton and Bush Junior continued, which resulted in the present economic mess we're in.

[richardaberdeen]

And, degrees or lack of degrees have no relevance in terms of what is true and what is false. It is historically false to pretend that deregulating the banks is a good idea. We had a Great Depression because the banks were deregulated. Since FDR, we had a very stable banking system until Reagan began deregulating them again. Then Savings & Loans defaulted, then a series of small banks in the 90's and now major banks were bailed out to avoid defaulting. Those are facts of American hsitory.

[richardaberdeen]

I was responding to your point. We seem to be talking apples and oranges. You said "there is a difference between oversignt and regulation". I was pointing out I am not talking about "oversight". Every response I made here is in regards to regulation. You apparently didn't understand that, otherwise you would not have made the statement. My point remains, that without regulation, there is nothing but moral, economic and actual chaos. Anyone who has picked up a history book knows that.

[flobrew]

@richardaberdeen I have dgrees in history and political science. I don't rely on "the media" for my info. You basically just told me what I just said, so I don't get your point.

[richardaberdeen]

When the media says, "banks have been deregulated since Reagan forward" this does not mean they have been entirely deregulated and the same is true regarding the airlines. What it means that some previous regulations have been lifted. The term "dereglation" in this sense means to loosen or remove rules that formerly applied. If the airlines or the banks were entirely deregulated, there would utter chaos.

[richardaberdeen]

Oversight means a government watchdog agency that supposedly watches out for citizens. Regulation is any form of rule that a government makes that business must abide by. For example, the FCC is an "oversight" entity set up to insure that media regulations are followed. Rules that prevent companies from hiring children, enforce worker safety laws, prevent bogus placebos being mixed in with regular pills and simllar are all forms of regulation, as are rules safety rules for airlines.

[flobrew]

@richardaberdeen I worked for an airline for years. They were all deregulated in the early 80's so I don't know what that has to do with anything. There is a difference between oversight and regulation.

[flobrew]

@richardaberdeen  in a word: Medicare.

[richardaberdeen]

The airlines have always been highly regulated. Imagine how many crashes there were no air traffic control operaters and if the airlines weren't forced by law to conduct regular inspection of their planes. There is wise regulation, there is unwise regulation, but no regulation = total chaos and disintegration of society, which is what we are going through now due to very unwise de-regulation of the banks. The banks were solid from FDR thru Reagan and then began to fail, first S&L, then others