Politics
Politics
Out of context: Reply #16603
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- ukit20
I think if you read up you'll find the financial crisis happened because of LACK of regulation, not too much regulation.
Why would you assume that every distortion in the market can only be created by government? Or that the market itself will remain stable and self-regulating on its own?
This is the kind of explanation pushed by politicians like Ron Paul. It feels good in its simplicity but the evidence points in the other direction.
In reality, it's exactly the kind of assumptions that led to the crash in the first place. Listen to Greenspan's mea culpas where he basically admits this.