>>>>So your solution is to carry on as you are ?
>>>>
>>>>Of course not....there is too much regulation that has largely created the mess we face today
>>>
>>>Too MUCH regulation created the mess we face today? That's certainly an interesting take on it.
>>
>>I think Kevin believes in the purity of an unregulated market.
>
>So do Jake and Edward. This quite amazes me after what we went through last year. If there had been more oversight of and disclosure of the credit default risk swaps at the heart of it I doubt the economic tsunami would have happened. As it is even Alan Greenspan said I barely understand these things.

Pardon me Mike, but I do not advocate an unregulated market. My problem is with over-regulation in general and legislative market manipulation in particular. I believe I've been quite clear regarding the sequence of events, legislative, regulatory and private-sector which have led us to our current predicament.

CDSs were not the heart of the problem but an accelerant. Housing is the heart. CDSs and low interest rates were the amphetamines which sped up the heart and caused the attack.