FBI is now investigating Fannie Mae, Freddie Mac, Lehman Brothers, AIG
09-26-2008, 11:50 AM
#121
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No, Laisseaz Faire is supposed to mean no government meddaling in the financial aspects of the economy, no big tax breaks, no unfairly excessive taxation, and no subsidies or disincentives- but come on, some basic rules of accounting and actuarial rigor need to be enforced or else- as are witnessing, greed and corruption run amok as the wheels come off the cart...
09-26-2008, 12:10 PM
#122
I don't need more cowbell dammit!
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By that reasoning there is no such thing as a free country since every nation has some laws.
No, Laisseaz Faire is supposed to mean no government meddaling in the financial aspects of the economy, no big tax breaks, no unfairly excessive taxation, and no subsidies or disincentives- but come on, some basic rules of accounting and actuarial rigor need to be enforced or else- as are witnessing, greed and corruption run amok as the wheels come off the cart...
No, Laisseaz Faire is supposed to mean no government meddaling in the financial aspects of the economy, no big tax breaks, no unfairly excessive taxation, and no subsidies or disincentives- but come on, some basic rules of accounting and actuarial rigor need to be enforced or else- as are witnessing, greed and corruption run amok as the wheels come off the cart...
http://www.merriam-webster.com/dictionary/laissez-faire
09-26-2008, 12:20 PM
#123
+1. It's just not working how it's going, companies are run like **** due to how their stock are traded.......the problem is the whole process shorts ourselves sp to speak in the long run..........and theres no way to escape that.
09-26-2008, 12:27 PM
#125
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The biggest problem is, and will always be, greed. Pure and simple.
These executives have 1 goal and 1 goal alone in mind - how much money can we make? And they will do what they can within legal bounds to get that money.
Which is why the FBI is getting called in to see if any laws were broken; and if just one executive broke the rules, more than likely they will be roping a few of them together.
These executives have 1 goal and 1 goal alone in mind - how much money can we make? And they will do what they can within legal bounds to get that money.
Which is why the FBI is getting called in to see if any laws were broken; and if just one executive broke the rules, more than likely they will be roping a few of them together.
09-26-2008, 12:35 PM
#126
I don't need more cowbell dammit!
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The biggest problem is, and will always be, greed. Pure and simple.
These executives have 1 goal and 1 goal alone in mind - how much money can we make? And they will do what they can within legal bounds to get that money.
Which is why the FBI is getting called in to see if any laws were broken; and if just one executive broke the rules, more than likely they will be roping a few of them together.
These executives have 1 goal and 1 goal alone in mind - how much money can we make? And they will do what they can within legal bounds to get that money.
Which is why the FBI is getting called in to see if any laws were broken; and if just one executive broke the rules, more than likely they will be roping a few of them together.
09-26-2008, 12:53 PM
#129
I don't need more cowbell dammit!
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We will see. There were loads of dishonest lenders, but there were an equal amount of moronic borrowers who either couldnt be bothered to, or just didnt want to, read the loan docs and ask questions about things they didnt understand and just signed away their lives. I have little pity for people who thought they could get money cheap now to buy a house and that it wouldn't come back to bite them in the *** later.
09-26-2008, 01:06 PM
#130
We will see. There were loads of dishonest lenders, but there were an equal amount of moronic borrowers who either couldnt be bothered to, or just didnt want to, read the loan docs and ask questions about things they didnt understand and just signed away their lives. I have little pity for people who thought they could get money cheap now to buy a house and that it wouldn't come back to bite them in the *** later.
09-26-2008, 01:09 PM
#131
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Laissez Faire is absent of government interference. The general rules of accounting would still be in place, but the market would be free from government interference.
http://www.merriam-webster.com/dictionary/laissez-faire
http://www.merriam-webster.com/dictionary/laissez-faire
Right- this part "the minimum necessary for the maintenance of peace and property rights" is where the "absolute" aspect of Laissez-faire economics falls away.
There is some amount of regulation required for these basic aspects, it is not all or nothing as was suggested- and that's where we've put the raccoons in charge of the henhouse leading to our current "reward the criminals" impending disaster .
09-26-2008, 01:11 PM
#133
I don't need more cowbell dammit!
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Right- this part "the minimum necessary for the maintenance of peace and property rights" is where the "absolute" aspect of Laissez-faire economics falls away.
There is some amount of regulation required for these basic aspects, it is not all or nothing as was suggested- and that's where we've put the raccoons in charge of the henhouse leading to our current "reward the criminals" impending disaster .
There is some amount of regulation required for these basic aspects, it is not all or nothing as was suggested- and that's where we've put the raccoons in charge of the henhouse leading to our current "reward the criminals" impending disaster .
09-26-2008, 01:58 PM
#135
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We will see. There were loads of dishonest lenders, but there were an equal amount of moronic borrowers who either couldnt be bothered to, or just didnt want to, read the loan docs and ask questions about things they didnt understand and just signed away their lives. I have little pity for people who thought they could get money cheap now to buy a house and that it wouldn't come back to bite them in the *** later.
I do not wholly blame the buyer in those cases - most were almost bullied into buying a home (and lets be honest, if someone is giving you the option of buying a home with almost no down payment and less than $1000 a month - would you turn it down?)
But at the same time, people should have been smart enough to look at it through the glass and say "That's a bad deal."
You have to remember though this is the American general population we are talking about; consumer driven and obsessed with material goods.
Last edited by R-Dub; 09-26-2008 at 02:00 PM.