Does anyone still believe in deregulation? I haven’t heard that from the republican camp lately.?

Posted on May 31st, 2011 by admin1 in republican consulting

because this is what it gets you:

"It’s clear we’re one step away from a financial meltdown," said Nouriel Roubini, chairman of the consulting firm RGE Monitor.

"A failed plan to rescue Lehman Brothers was followed Sunday by more seismic shocks from Wall Street, including an apparent government-brokered takeover of Merrill Lynch by the Bank of America.

The deal would not come without risks, however. Merrill Lynch, like many of its Wall Street peers, has been struggling with tight credit markets and billions of dollars in assets tied to mortgages that have plunged in value. Merrill has reported four straight quarterly losses.

The weekend’s developments will likely spur a much greater focus by presidential candidates — Republican John McCain and Democrat Barack Obama — and members of Congress on the need for stricter financial regulation."

Where’s the hue and cry for more deregulation and free trade. Now if the federal reserve and governments step in to bail these firms out, wouldn’t that be socialism? Can’t Wall Street let the chips fall where they may? Whatever happened to that good old capitalistic ideal of sink or swim.

http://news.yahoo.com/s/ap/financial_meltdown

You are right, they should be allowed to fail. The taxpayers should have to bare the risk. The bailout of Fannie Mae and Freddie Mac have put trillions of dollars of risk on the taxpayers.

2 Comments on “Does anyone still believe in deregulation? I haven’t heard that from the republican camp lately.?”

  1. Outlander

    You are right, they should be allowed to fail. The taxpayers should have to bare the risk. The bailout of Fannie Mae and Freddie Mac have put trillions of dollars of risk on the taxpayers. References :

  2. † Coming Soon † SFCU

    They need a bit of a controlled failing so that the economy can adjust.. We can’t have them all going at once.. They have been mismanaged and need to change and new companies need to rise out of the ashes..References :

Leave a Reply

More News