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That said many see profit in “freedom” from regulation and call for it. Naïve or corrupt?



On Dec 14 08:15 AM Adamantane wrote:

> Talk about creating a self-fulfilling prophecy. I think it is unconscionably
> irresponsible for anyone to advise people to leap into total panic-mode
> selling, especially when it is a foregone conclusion what the consequence
> will be. It makes me wonder who is setting themselves up to profit
> from the inevitable dead cat bounce after all the lemmings jump off
> the cliff having gotten less than half of what they would have received
> in an orderly and systematic unwinding of positions.
>
> I don't disagree that people who rely on the government regulators
> to watch their back for them are fools, and that simple and transparent
> balanced holdings are preferable to pigs in pokes, but this is not
> a plausible way to get to that position.
>
> (It still astounds me that some people blame the free market for
> brazen and widespread acts of fraud such as the subprime mess, and
> the unsecured credit default swaps which are the functional equivalents
> of hot checks being used to play the float. Old-fashioned fraud is
> not a feature of markets, certainly anything but a feature of capitalism
> which system requires mutual trust and confidence and fundamentally
> honest if often hardnosed play by all participants. Even the most
> draconian regulation only tangentially can address well-concealed
> or long-standing systematic frauds. The fraudsters as our British
> friends term them are the appropriate targets for wrath and punishment,
> not free markets.)]]> Sun, 14 Dec 2008 08:58:16 -0500
That said many see profit in “freedom” from regulation and call for it. Naïve or corrupt?



On Dec 14 08:15 AM Adamantane wrote:

> Talk about creating a self-fulfilling prophecy. I think it is unconscionably
> irresponsible for anyone to advise people to leap into total panic-mode
> selling, especially when it is a foregone conclusion what the consequence
> will be. It makes me wonder who is setting themselves up to profit
> from the inevitable dead cat bounce after all the lemmings jump off
> the cliff having gotten less than half of what they would have received
> in an orderly and systematic unwinding of positions.
>
> I don't disagree that people who rely on the government regulators
> to watch their back for them are fools, and that simple and transparent
> balanced holdings are preferable to pigs in pokes, but this is not
> a plausible way to get to that position.
>
> (It still astounds me that some people blame the free market for
> brazen and widespread acts of fraud such as the subprime mess, and
> the unsecured credit default swaps which are the functional equivalents
> of hot checks being used to play the float. Old-fashioned fraud is
> not a feature of markets, certainly anything but a feature of capitalism
> which system requires mutual trust and confidence and fundamentally
> honest if often hardnosed play by all participants. Even the most
> draconian regulation only tangentially can address well-concealed
> or long-standing systematic frauds. The fraudsters as our British
> friends term them are the appropriate targets for wrath and punishment,
> not free markets.)]]> http://seekingalpha.com/article/104650-the-myth-of-wall-street?source=feed#comment-300314 300314 Fri, 07 Nov 2008 14:30:24 -0500 http://seekingalpha.com/article/104650-the-myth-of-wall-street?source=feed#comment-300046 300046 Fri, 07 Nov 2008 09:43:31 -0500 http://seekingalpha.com/article/93736-oil-the-inconvenient-truth?source=feed#comment-244822 244822 Wed, 03 Sep 2008 15:45:31 -0400