Home Ownership and President Bush

I think the Republican Party and their cronies on Wall Street could certainly use some "faith-based programs" right now... but the truth is that the 30-year experiment with Reaganesque pro-business, anti-government, pro-deregulation economics is coming thankfully to a very abrupt end.

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  News & Politics

[esignview]

Bush sounds like a good Democrat here.

[SocialistLiberal]

BOOM!

[2leet2cheet]

What makes sense to me, well...1:1 lending makes sense to me. Would take away a lot of the volatility in the business cycle and would take away a lot of the fraudulent price signals that lead to the large bubbles. I'm not saying we need a gold standard or anything like that, but 1:1 lending just makes sense, because it's what most people THINK we have right now, when nothing could be further from the truth.

[2leet2cheet]

I don't believe it was a 100 year plan, I believe the bankers under estimated the crisis they were manufacturing, leading to Glass Steagal and therefore ruining their plans.

[2leet2cheet]

Okay, Let's go back to what I said,

"this clout by the financial sector came about from the FED and fractional reserve lending"

Core issue fractional reserve lending, leading to the need to have a FED in the first place, leading to regulations needed. When you take away those regulations the system fall apart. So to argue that it was deregulation that caused it is not really true, because it was the fraudulent regulation of mentioned mechanisms that really caused the problem.

[DavidByrne85]

I'm skeptical that the powerful hatch plans that take 100 years to work out, tbh.

So what ideas make sense to you in the way of financial reform? Give me an outline

[DavidByrne85]

Fair point. The greenbacking during the civil war was probably another period if sectoral stats like that existed back then. But my main point is finance was tamed, in as much it had ever been tamed, after 1913. It gradually became dominant again after the procession of deregulation that started after 1973.

Im not supporting the current system. Im just saying blaming the fed as the main cause of the rise of finance just doesn't work by itself

[2leet2cheet]

You may want to go back as far as the First bank of the United States.