Does this scare you too?

Question

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!!!

Toby Munk · Answer

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.

Kevin Oliver · Answer

Amen Ryan :) you couldn't have said it better!!

Account Closed · Answer

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!

Steve Funder · Answer

Honestly, It is sad to see politicians in this age.  For democracy to work at all, people need the truth.  People need to be informed.  We are being spoon fed the scarf and barf results of public opinion polls and special interest agendas every time one of these talking heads open their mouths.  I used to be fairly passionate about party platforms, now I believe that  I was just drinking their version of the Jonestown punch.  Every time a proposition comes on the ballot, we get to watch people lie through their teeth, present things out of context, and report irrelevant suspicions about the proposition.  It’s really too bad.
This is going to sound equivocal, but I do think that the federal government and the Federal Reserve need to put their best minds to the task of understanding what is happening in our economy right now, and what can be done to preserve the prosperity of our citizens.  The 20th century was a longstanding period of economic stability and success, and if we are to continue to forge favorable economic conditions, it will take ambitious bodies and ambitious minds.