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Originally Posted by Tchocky
Wheh?
Lax financial regulation was one of the main causes of the current mess.
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Hmmm... I can't agree with that completely. True, the Fed needs to overhaul the system as it's archaic, but not to the extent they'd like to IMO. It's a free enterprise system and the responsibilty of both sellers and consumers to be savvy enough to make "decent" decisions. If the Fed stepped in to say, cap profits (like they
won't do with the oil companies BTW) what's the use of having an economy based on capitalism? You'd always know that you were going to "hit the ceiling" due to Federal interventions.
It's a statement like this: "...deemed to potentially threaten the stability of..." that really bother me because it looks like a loophole for the Fed to exploit when they see the need. Seems like we're adapting our Foreign Policy to our Economic...
