> >"Paul Hovnanian P.E." wrote in
> >news: firstname.lastname@example.org:
> >> And the market is taking a dim view of a solution managed by one of the
> >> members of the Keating Five.
> >Who admits to being unknowledgeable about the economy...!
> I can easily understand Hovnanian's ignorance... it's well documented,
> but _you_ Kris?
> The prosecutor, hired by the Democrats to investigate the "Keating
> Five" recommended no action be taken against McCain, but the Democrats
> couldn't cope with a Democrat-only indictment.
The _Senate_Ethics_Committee_ cleared McCain, but censured him for using poor judgment.
I don't want want someone clueless at the helm as much as I don't want a crook there. The next few years are going to require intense oversight by Congress and the Administration of the banking and investment businesses.
Oh, those evil Democrats. Charging four of their own with ethics violations. Partisanship run wild!
Paul Hovnanian email@example.com
Bennett, the special prosecutor, recommended no action be taken against McCain. But you worthless Democrats couldn't cope with only Democrats censured. So the useless Democrat-controlled committee left him in.
We WILL get even ;-)
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et |
Bubbles happen periodically, unless regulation stabilizes the market and prevents them. But they don't happen until the last one has really died out. So the mortgage thing doesn't need intense oversight in the next 5 or 10 years... that's too late. It doesn't really need intense oversight at all.
It needs changes in law, with suitably intimidating penalties, that prevent the next bust in 20 years or so.
Government, with its various long tentacles of interference, causes these massive clusters of investment error. No one else is powerful enough to do it, or to cause that sort of coincident response. Of course, the private sphere is blamed because it superficially looks like that is where the problem. The the response is typical: the solution to government failure is more government.
Read "Extraordinary Popular Delusions and the Madness of Crowds", published in 1841. Stock markets have been having bubbles since the idea of stock markets was invented. It happened with tulip bulbs, too.
It's a natural dynamic. It's in the public interest to damp the feedbacks that cause runaways.
Do you mean after the Bush tax increase or the Obama tax cut? Bush's tax plan contained a timeout after which the taxes would go back up. This will be the Bush tax increase. He needed to include it so that the "creative accounting" could be done so that people wouldn't see the huge debt he was adding to the nation. Obama has proposed a better tax cut than Bush's that for most people will mean a decrease in taxes.
That's only to ensure that the parties to the contract adhere to their particular clauses.
Whether the contract is _fair_ or not is none of the government's business
- if you don't like the deal, don't sign off on it.
Oh, sure, like laws against theft and stuff - but the way to protect yourself from the pros is to not buy their crap. The best answer, of course, is the Free Market. Competition, you know? You must know something about that.
What is it you mean by "manipulation"? The manipulation that NEEDS to be prevented is manipulation by the government, because it's in opposition to Free Will, therefore Anti-American.
We need more Caveat Emptor. If some idiot buys a mortgage that both he and the lender know he can't pay off, but they're both betting on the bubble, well, when the bubble pops, they're supposed to lose!
Again, educate yourself, and if the deal isn't "fair" (whatever that may be to you), then don't sign! Duh!
You use the term "prevent" here. That's ridiculous. The government can't _prevent_ ANYTHING - just try to capture the perps and get revenge on them.
And anyway, don't they already have that?
But first, give me full disclosure of the finances of the government.