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Originally Posted by Willravel
Cutting taxes was a part of his plan. The lack of oversight from government was connected to the S&L crisis. As for the USSR, we could have handled that better (of course we were both in diapers at the time, so anything I put out there is going to be hindsight so I won't get into it).
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Agreed, S&L was the crap and totally uncalled for. As for USSR, yes hindsight does skew things a bit, but given the context, I think The Gipper did all right.
Quote:
Originally Posted by Willravel
The last one sounds okay for the time being. It would ruffle way too many conservative feathers to start regulating a lot.
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Maybe, maybe not. I think it would depend on what kind of regulation and hopefully, there will be enough people in the middle to keep extremists on either side at bay. We have to let them know it can longer be "business as usual" you know? Maybe the elections will yield an interesting make up in the Congress (more moderates, middle, progressive types from any party and indies). But yes, I also agree with the last one.
Quote:
Originally Posted by Willravel
What I hope happens is people are actually held responsible this time. Keating was a joke, and a lot of people got out of the S&L thing scott free.
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I was thinking the same thing! Really, enough is enough. Accountability and responsibility (supposed tenets of conservatives and Republicans).
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Originally Posted by Willravel
That may be true, but less capitalist markets seem to be doing better right now. I'm not saying anything is perfect, but you've gotta shoot for the best you can. If there's a solution that's capitalistic, I'm all for it. If there's a solution that's less capitalist, that's fine too.
I'm sure they've got something up their sleeves.
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I like your open mindedness and outlook. I happen to agree as well. Thanks for your candor and for sharing your thoughts.
-----Added 19/9/2008 at 03 : 42 : 13-----
Quote:
Originally Posted by Rekna
Corruption will exist in any system, it is a flaw in mankind.
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True, very true. But we should still do our best to mitigate it.
-----Added 19/9/2008 at 06 : 20 : 07-----
Well roachie, it looks like you got your wish. Short-selling has been temporarily banned. Not sure what to make of it. I kind of liked short-selling but if we need to ban it, then I guess we need to ban it. Still, a temporary ban does seem prudent at this time.
SEC bans short-selling - Yahoo! News
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EC bans short-selling
WASHINGTON - The Securities and Exchange Commission took the dramatic step early Friday of temporarily banning the routine practice of betting against company stocks.
The move, announced on the agency's Web site, may well be unprecedented and a reflection of regulators' concern about the widening scope of the financial crisis as entreaties come from all quarters to stem a swarm of short-selling.
In the announcement, the commission said it was acting in concert with the U.K. Financial Services Authority in taking emergency action to "prohibit short selling in financial companies" to protect the integrity of the securities market and boost investor confidence.
"The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets," SEC chairman Christopher Cox said in a statement. "The emergency order temporarily banning short-selling of financial stocks will restore equilibrium to markets."
The move, he said, would not be necessary in a well-functioning market and is only a temporary step that is part of the actions being taken by the Federal Reserve, the Treasury and Congress.
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