tag:blogger.com,1999:blog-316774933262163695.post3582941161543713544..comments2023-10-11T08:31:50.397-04:00Comments on moneythoughts: The Problem Rests With A Congress that Refuses To Learn Anything From Their Mistakesmoneythoughtshttp://www.blogger.com/profile/08462893426608294171noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-316774933262163695.post-53544944708711528482010-01-27T11:38:34.559-05:002010-01-27T11:38:34.559-05:00I’m not altogether ready to say the devil made the...I’m not altogether ready to say the devil made them dereg just yet. I actually think we’re dumber than we are evil and that’s why we need very specific rules – that “help” us not hurt anyone and our self, but this is an Indy 500 economy racing with the world and to go faster we sometimes hit the wall. It’s a difficult balance, I agree. Now if you want to go Deuteronomy 23:19 on this and do not charge your brother interest, I suppose I could hang with that too. How do I become your brother? A loan without interest is a very difficult mortgage to go upside-down on. But, that isn’t practical either. Then behind the evil and the dumb lay the perfect storms.<br /><br />I agree with you, when Congress seems to think they can do everything, and know everything there is to know - about everything, look out. But you got to agree, AIG was way more out of control than it should have been allowed to be and that’s got everyone antsy. Some feel Bernanke could have let AIG “feel the pain” a little more. Warren Buffett criticized Bernanke in 2008 for wanting to buy trash assets at a premium rather than at market rate just to get banks to sell. As one analyst put it to the banks in 2008, “Sell your stuff now [at market rate] or forever rot in bankruptcy court.” As I read it, I understand that to be at the root of the Bernanke confirmation, I have no doubt he will be confirmed anyway. The Volker rule is a reminder of why Glass-Steagall in the first place, but are these rules workable in a modern global system? Some say no. <br /><br />It will be interesting to see how this plays out. But, what do I know? I’m one of the dumb.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-316774933262163695.post-48420111036327563552010-01-26T16:36:31.969-05:002010-01-26T16:36:31.969-05:00Julie, I can understand where you are coming from;...Julie, I can understand where you are coming from; however, even for the professional money manager, the laws have failed to deal with a whole bookshelf of abuses. For the good of so many people that have their retirement (pensions) investment in our markets, we need rules to protect us all.moneythoughtshttps://www.blogger.com/profile/08462893426608294171noreply@blogger.comtag:blogger.com,1999:blog-316774933262163695.post-12745301583504184912010-01-26T11:53:02.732-05:002010-01-26T11:53:02.732-05:00People should stop selling stuff I don't under...People should stop selling stuff I don't understand, like financial advice and securities. They should stick to selling things like buttons and apples.Julie Kwiatkowski Schulerhttps://www.blogger.com/profile/00292349838507731268noreply@blogger.com