There is nothing wrong with markets. Just as there is nothing wrong with football. But both need to be regulated. Without refferees enforcing the rules, sooner or later football players will start using brass knuckles, and then knives, and clubs and what you will get is a bloody mess of dead players. Maybe that is not what we as a people want. We, as a people decide what we want through democratic institutions (that means government. we govern ourselves in this country. remember "of the people, by the people, for the people"?).
The Republicans have been saying for 30 years that Government regulation is the problem. Republican McCain and Republican Greenspan have been effectively deregulating Wall Street to the point that the investment banks basically slashed each other up with machetes (derivitives and other worthless paper or toxic assets, whatever you want to call it) and so now we have a banking sector so hacked to pieces that it cannot provide the necessary services that our citizens and enterpeneurs need to keep us out of The Second Great Depression.
It is time to nationalize all the insolvent banks, throw out their managers and confiscate the millions that they pocketed while driving their industry beyond the point of collapse.
Do not believe anything any Republican tells you. Their disinformation and misinformation about the economy is just as worthless as their boasting "There is no doubt that Sadam Hussein has weapons of mass destruction"
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