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  • Goldman Sachs Debacle: Clueless in D.C. [View article]
    If Paulson & co. had been the loser in the trade, would we have ever heard about it. No one ever cares about the shorts getting a haircut. The debtors who could not make their mortgage payments chose the winners and losers in the housing bubble, not firms like GS.
    Apr 28, 2010. 06:55 PM | 1 Like Like |Link to Comment
  • Grading the Financial Regulatory Reform Bill [View article]
    Linus, Linus, Linus, a C? Don't tell me you are one who is afraid to grade and write notes in red ink. I believe your grade should be incomplete. Resolution Authority, pay now for failure later. Does not sound like too big to fail to me. Derivatives Regulations, sound like a good idea to you to take away the ability to hedge risk on the bad loans lenders are asked to take on? Ratings Agencies, why not an average score from 2 out of 3 or all 3? Bank Tax, too big to fail still intact. Break up big banks, I think during the crisis we made them larger. We still need to separate commercial banking from investment banking.
    Whenever we have a financial crisis we only focus on the lender, never the debtor. Almost all bank failure stems from the debtors inability to repay debt. Instead of Financial Reform, why not Credit Reform? This, of course, would force the idiots we sent to D.C. to stand up and take the blame for their part. Until our society once again levies major penalties to corporations and individuals for bankruptcy, all Reform bills will be graded incomplete.
    Apr 25, 2010. 01:51 PM | 7 Likes Like |Link to Comment
  • Too Big to Fail: Time for a Controlled Demolition [View article]
    Let us not forget that we live in an era of hugh demand for debt, both public and private. Our society has pressed the banks to finance this debt, the quality, the junk, and the subprime. I also realize there were quetionable products that were dreamed up and traded at the big banks. But when our society puts such high pressure on our lenders to finance this debt, both the good and the bad, and we the people default, who is really to blame? If the debt was paid back the way the terms were agreed upon, I feel the banks would have remained healthy. U.S. politics always pushes the blame to the few over the many.
    Apr 24, 2010. 10:43 AM | 3 Likes Like |Link to Comment
  • Slapped by the Invisible Hand: Laying Bare the Root Cause of the Crisis [View article]
    Thank you ebworthen. I wish that more people would discuss the morality topic of Adam Smith as much as the invisible hand. I don't think Adam Smith would have written about the invisible hand without morality being it's equal.
    Apr 17, 2010. 03:26 PM | 1 Like Like |Link to Comment