Quote:
Originally Posted by tater
Self regulation would have worked with Wall Street. It was not allowed to by the government. Betting the store on crap like CDS should have resulted in closed businesses, and bankers doing the right thing (jumping out of windows). Instead we get "too big to fail" and they are in fact rewarded for their misdeeds. Less government involvement would have resulted in more brutal, free market solutions (GM (and all their lazy workers driving up costs) would be toast, for example, as it should be).
Investors too stupid to diversify deserve everything they get (I don't think anyone bamboozled by Madoff or Enron should get any hand-outs, either, they were idiots, every single one of them).
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Or, a better solution - if we had never gotten rid of Glass Steagall and regulated CDS as they should have been, bailing people out wouldn't have been necessary.