>To continue regarding unrestricted capitalism with rose colored glasses is also to dispute basic economic realities. Such as the godawful mess they got us into now.
Who's talking about unrestricted capitalism? I've been very clear about the regulatory and de-regulatory decisions that led to this mess.
>Oh wait, this was the fault of the
government, not those poor little old bankers and traders.
The root causes lie with government policy decisions. None of this happens without Fannie/Freddie's increased backing of subprime loans and the repeal of Glass-Steagal. If anyone can argue differently, I'm all ears.
btw: This says nothing of the option-ARM and ALT-A loans which are still out there and are going to explode in 2010-11. Be aware subprime is merely the first housing bubble to burst there is another on the way.
Wine is sunlight, held together by water - Galileo Galilei
Un jour sans vin est comme un jour sans soleil - Louis Pasteur
Water separates the people of the world; wine unites them - anonymous
Wine is the most civilized thing in the world - Ernest Hemingway
Wine makes daily living easier, less hurried, with fewer tensions and more tolerance - Benjamin Franklin
