re: #937 austin_blue

Fair enough. I have faith, my friend.

I have seen what a disastrously unregulated banking and investment sector has done to this economy in our country. I have seen how common working people have been impacted by financial “instruments” that were toxic at their core.

Blaming these frauds on ‘unregulated banking and investment” is a left wing talking point. There is a great deal of regulations in place, they are enforced incompetently by an incompetent enforcers.

“Toxic” is another propaganda word, what was “toxic’ at their core was the faulty mortgage loans that were implicitly guaranteed by the government. Beyond that it was exactly because of regulation, not despite it, that those assets became toxic.

I have seen how the folks at the top of the Ponzi scheme have made out like bandits and still keep their jobs.

Bull. Those ponzi schemes that the government enforcers stumble on due result in prison for those on top, not job security.

I am also hugely disappointed by the response of this government. But I understand that if the Playaz in this disaster were to be properly spanked, it might result in a total meltdown of our financial system.

I am enraged by this. But I feel I must keep my powder dry.

Frustrating? Oh, hell yes.

Anger and high emotion does not equal understanding. Simply lashing out at scapegoats, giving more power to incompetant regulators and enforcers, and creating new problems from flawed regulations do nothing to help the situation.