> Jake wrote: > "Government has no capability to manage production or business." > > That's way they are in Congress... they already failed in the business > world. Now, they are going to dictate how companies are going to operate? >
Did you misread my point? I said they have no capability to do that. So no, Congress will not dicatate how companies are going to operate but they will dictate the playing field: * Congress and government bodies will ensure that no company has an industry monopoly. * Congress will ensure that no company is "too big to fail" or so big the failure of which will adversely impact the economy. * Congress will protect the consumer. This will mean congress will have to assume the consumer is moron; a safe assumption as it turns out. For example, if you had no income in 2007 in early 2008 you had your choice of lenders willing to lend you $1M for a house. That's a broken playing field. For example2, rating agencies could rate a tranche of mortgage-backed securities AAA to BBB. I could buy up all of the BBB and then re-package them and them rated AAA to BBB even though the entire tranche is made up BBB. Confused? What that means is that you as the consumer don't realize that THIS AAA is safe but THAT AAA is junk. That's a broken playing field. For example3, You and I could - RIGHT NOW - start a hedge fund. Let's say we each put in $50,000, that would, under current regs, allow us to borrow $7,000,000. Now we're a $7M hedge fund. Next we tell every CDS desk we're selling swaps. With $7M we could sell about $100,000,000 in protection and we'd take in about $5,000,000 per year. Within 1 week we're millionaires. In fact we each now have $2.5M and we only have to pay capital gains tax rates so 15% or less. Even if our little Hedge Fund goes bust, no problem, since it's all on borrowed money. Tax payers will take the hit and we're millionaires. That's actually legal right now. No kidding. Oh so Laissez, but not Laissez enough for some! Not a fair playing field. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:283050 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
