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September 17, 2008
Hooray!
Go Free-Market Capitalism!!!!!! Careful, your invisible hand is showing!
God forbid we should regulate these idiots and save ourselves the huge expense of bailing them out (currently we are at about $1 trillion this year). Can you imagine where we would be right now with a well regulated financial market and no war? $2 trillion ahead!
The mind boggles.
What many conservitives ignore is that when we talk about regulating financial markets what we are really talking about is not limiting their ability to do real business, it's limiting their ability to perform acts of accounting fraud. The radical financial instruments of the past 10 years had nothing to do with actually creating value, and everything to do with hiding losses and pumping up the value of truly worthless holdings.
Posted at September 17, 2008 10:32 AM in Politics
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