BiggerPockets

http://money.cnn.com/2008/03/31/news/economy/paulson_regulation/index.htm?cnn=yes

Read the above article then vote your feelings on it!!!

Remember how Ronald Reagan took this country from the horrors of the Gas Crisis, Hostage Situations and one of the worst economic forecasts in our history?

He believed that Government wasn't the Answer, but Government was the Problem. I still believe that. The more government has control the closer we become to a socialist society. Let the people decide that is true capitalism!

Let the market decide....? BS
That would get us back to Standard Oil. Do you really think monopolies are good? They are true capitalistic though.

Regulation is needed. Can you imagine the financial system where insider trading is welcome?

Just because we want free markets does not mean the market is free to do what it wants.

In the case of banks it is peoples savings at risk. The government insures those up to $100k. In return I think they have a right to regulate.

I would not put a dime in a bank that is not regulated.

Now, the new FED powers will not help this time around. The mess is here. But it might shield against the next lending excess.

PS: Ronnie McDonald was the finest role model for the lend and spend mentality that has gripped the american nation. In all honesty he was probably the worst that could have happened to the US fiscal responsibility only trumped by the blatant disregard for prudent spending now shown by the Bush administration.