Quote:
Originally Posted by aceventura3
Greed.
Also, I think history clearly shows that regulators are reactive. They let an excess cause a problem, then they do something that they think solves the problem. Then the next excess causes a problem and the cycle continues.
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Also, many would argue it was the government response to the crash in 1929 that actually caused the depression.
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1. Under capitalism, greed is a constant. Capitalist ideology tells us it has always been so, and will always be so, and can only be so. You own it, Ace. Enjoy.
2. I would agree that regulation is reactive, and it seems you think that regulators should have been more proactive. No doubt. Considering that the current crash developed after the dismantling of the 1930s regulatory framework, i cannot agree that an excess of New Deal regulation led to the Crash of 2008.
3. Many of those "many" would argue that any gummint anything is a priori bad bad bad. They have the same knee-jerk response to every development. So does my cat. Meow.
Still others would point out that attempts to balance budgets after 1929 exacerbated the situation. That is happening right now.