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"Bold" action by the politicians and the central banks created much of the current mess. No, bold actions by financial instrument designers, sellers and buyers
by jbooth 15y ago
"Bold" action by the politicians and the central banks created much of the current mess.
No, bold actions by financial instrument designers, sellers and buyers created much of the current mess. Agreed on the crony capitalism and ad hoc intervention, and the real shame is that the cowboys who got us here did great out of the deal, but let's lay the blame appropriately.
- danmaz74 15y agoMoreover, excessive deregulation by the politicians allowed all that. But, it could be argued that eliminating the regulations was "bold action"...
- Estragon 15y agoThe bold action was the imposition of those regulations back in the wake of the Great Depression. The repeal of them was business-as-usual cronyism for the sake of incremental financial gain.