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Originally Posted by dc_dux
Regulation worked pretty well between 1929 and the Glass-Stengall Act.....until the deregulation of the S&Ls in the 80s and the deregulation of commercial and investment banking in 2000.
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What about the period before 1929? The banking system was working then with even less regulation than today. Perhaps the generic concept of "regulation" is meaningless. We should think in terms of value adding regulations, and regulations adding no value. This current form of liberal speak suggesting that banks and the financial sector are not regulated is either dishonest or uninformed. Yes, I said it again - unfortunately it is true.
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There has always been fraud, dishonest, greed... but regulatory oversight keeps it in check far greater than the "invisible hand" or caveat emptor..
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I disagree. The best protection against dishonesty, greed, etc. is due diligence, doing your homework, being proactive, alert, cautious, etc. at the individual level. Even in highly regulated markets a person can be a victim and unfortunately the regulators may not be able to respond until after the damage has been done, but if one does their own due diligence one can avoid being a victim to begin with.
It is interesting how this illustrates a fundamental difference in the thinking of current liberals and real conservatives. And even Obama stated that government is the only solution to our current economic problems. Unbelievable.
