Comments on: The Fruits Of Deregulation: “Too Big To Fail” http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/ Big Teeth. Huge Ass. Surprisingly Reasonable. Mon, 23 Nov 2009 07:33:07 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: patrikios http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/comment-page-1/#comment-420899 patrikios Wed, 22 Oct 2008 17:42:59 +0000 http://donklephant.com/?p=9489#comment-420899 You are right about Fannie and Freddie, Jimmy. But if you are honest, you would admit that they are only part of the problem. You don't think that Phil Gramm's bill exempting credit default swaps from regulation had anything to do with this crisis? Warren Buffett (who knows more about economics than most people) disagrees with you. You don't think that the SEC's lack of oversight of investment banks had anything to do with this crisis either? Or the Bush administration's use of an obscure 1863 law to preempt state action against predatory mortgage lenders? You are right about Fannie and Freddie, Jimmy. But if you are honest, you would admit that they are only part of the problem.
You don’t think that Phil Gramm’s bill exempting credit default swaps from regulation had anything to do with this crisis? Warren Buffett (who knows more about economics than most people) disagrees with you.
You don’t think that the SEC’s lack of oversight of investment banks had anything to do with this crisis either? Or the Bush administration’s use of an obscure 1863 law to preempt state action against predatory mortgage lenders?

]]> By: Jimmy the Dhimmi http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/comment-page-1/#comment-420811 Jimmy the Dhimmi Wed, 22 Oct 2008 01:59:46 +0000 http://donklephant.com/?p=9489#comment-420811 Those government sponsored enterprises buying up all those subprime loans under mandate by the government and then selling the mortgages as securities with fraudulent ratings assigned by the government were too big to fail too. The government has created this cycle of financial failure for which the government has decided that more government is the answer. This is called the road to serfdom. Those government sponsored enterprises buying up all those subprime loans under mandate by the government and then selling the mortgages as securities with fraudulent ratings assigned by the government were too big to fail too.

The government has created this cycle of financial failure for which the government has decided that more government is the answer. This is called the road to serfdom.

]]> By: ExiledIndependent http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/comment-page-1/#comment-420805 ExiledIndependent Wed, 22 Oct 2008 01:01:33 +0000 http://donklephant.com/?p=9489#comment-420805 Leap, the government will decide how big is too big. And actually, your strawman holds pretty true, Justin. It is a socialist policy for the US government to nationalize a transportation manufacturer, just like it's socialist policy to take control of major financial institutions. Folks, we're already there, and both presidential candidates--who are both heavily influenced by representatives (official and otherwise) of Goldman-Sachs--ate it up with a spoon. Leap, the government will decide how big is too big. And actually, your strawman holds pretty true, Justin. It is a socialist policy for the US government to nationalize a transportation manufacturer, just like it’s socialist policy to take control of major financial institutions. Folks, we’re already there, and both presidential candidates–who are both heavily influenced by representatives (official and otherwise) of Goldman-Sachs–ate it up with a spoon.

]]> By: leapsecond http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/comment-page-1/#comment-420800 leapsecond Wed, 22 Oct 2008 00:21:53 +0000 http://donklephant.com/?p=9489#comment-420800 The question is, how will they regulate companies from becoming "too big"? The question is, how will they regulate companies from becoming “too big”?

]]> By: BenG http://donklephant.com/2008/10/21/the-fruits-of-deregulation-too-big-to-fail/comment-page-1/#comment-420790 BenG Tue, 21 Oct 2008 23:01:04 +0000 http://donklephant.com/?p=9489#comment-420790 Justin, And the "Too Bigness" as well as the too much influence of these select few companies has been all to apparent during these critical times. The stressful times have also accelerated both of these factors, as shown by Goldman Sachs' role during the negotiations for the bailout package, the fact that so many important figures involved here were once top officers in G.S. sure makes it apparent how much influence it has on our Govnmt. If you saw 60 minutes last Sunday, you wouldn't have missed the CEO of Bank of America telling us that since the economic meltdown the amount of new account holders in his bank have risen, what, 60% is it? He boasted that B.O.A. now holds at least one type of account for nearly one half of the general population - can it be that high? That's ridiculous and talk about unintended consequences - that's scary stuff. Justin,

And the “Too Bigness” as well as the too much influence of these select few companies has been all to apparent during these critical times. The stressful times have also accelerated both of these factors, as shown by Goldman Sachs’ role during the negotiations for the bailout package, the fact that so many important figures involved here were once top officers in G.S. sure makes it apparent how much influence it has on our Govnmt.

If you saw 60 minutes last Sunday, you wouldn’t have missed the CEO of Bank of America telling us that since the economic meltdown the amount of new account holders in his bank have risen, what, 60% is it? He boasted that B.O.A. now holds at least one type of account for nearly one half of the general population – can it be that high? That’s ridiculous and talk about unintended consequences – that’s scary stuff.

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