Quote:
Originally Posted by ASU2003
I might write in Ron Paul's name in November. I do think that some regulation is needed, however the dollar failing would be much worst than a wall street crash or anything like that.
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Further to my comments about crony capitalism vs. socialism, I think it is important to note that the New Deal was not socialism either...
One of the main components of the New Deal was the creation of rules and regulations for the stock market... rules and regs that created a transparency in the system. These clear rules, a levelling of the playing field as it were, made the US markets *the* market in which to invest. The deregulation of the system removed much of this oversight and transparency. So much so that we now have many that do not trust the financial results being reported by US firms.
There is going to be a long climb out of this hole (a financial and an ethical hole).