At 1:51 PM -0500 3/3/09, Charles Bennett wrote:
> > (though there are sound
>> arguments for bringing more government control into the financial and
>> medical sectors and in the big bad world, you have to *buy* that).
>
>There are ways to get to universal health care coverage that still
>uses the free market system.
Nope. Their are ways that allow for a regulated oligopoly to
do what the government does, but that isn't a very free market.
And it isn't universal health care if you aren't providing
health care to homeless unemployed people.
>For financials, simply setting a rule about the amount of leverage
>allowed would have gone a long way.
>
>AIG had about 1 dollar for every 30 leveraged. That is simply
>insane.
Yep. And their are rules to cover how much leverage they are
allowed to do - but all the big Wall Street firms managed to get
special dispensation to be allowed to leverage more than that.
>
>Imagine having very high risk investments that total 30 times your
>net worth.
Yep, crazy.
Of course, S&P swore blind on a stack of bibles that they
really weren't that risky.
>I'm not going to award them the trophy before the season even starts..
Fair enough.
But Obama didn't create the problem, and so far seems to be
doing a mildly better job of proposing how to deal with it than other
US politicians. I'm willing to give him a little time to work on the
issue before criticising.
Cheers
David
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