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Oh! I see. I thought you were responding to something he'd actually said. But it sounds like you just made up something you wish he had said, and then slammed h
by byrneseyeview 18y ago
Oh! I see. I thought you were responding to something he'd actually said. But it sounds like you just made up something you wish he had said, and then slammed him for having been the kind of person you think would say this kind of thing.
There's more than one 'right-wing' explanation for the crisis. So far, the folks who claim that it wasn't regulation-driven haven't explained why so much of the crisis happened in the most regulated and most subsidized sectors of the economy.
- JabavuAdams 18y ago> So far, the folks who claim that it wasn't regulation-driven haven't explained why so much of the crisis happened in the most regulated and most subsidized sectors of the economy. De-facto trumps de-jure. If your regulators aren't actually regulating, and are in fact aiding and abetting fraud, then it's irrelevant whether the industry is supposedly highly-regulated.
- byrneseyeview 18y agoWell, not, it's actually a really important point about regulation. Given a regulator who gets to decide how Goldman Sachs behaves, who has a bigger interest in the outcome -- Goldman, getting 100% of the privatized profits, or you and me, sharing 1/300 millionth of the socialized losses? The more powerful the regulator, the bigger the incentive for regulatory capture.