> I hate to break the news to you but Bob is quite wrong - and so are > you. And > the proof of that statement is evident in the result. Countries (like > Australia) where there is strong regulation enjoy both a unparalleled > degree > of prosperity and freedom but also a strength in our financial markets > that > is relatively unaffected by the mess emanating from your shores.
There are three main *root* causes of the mess we're in, if you really want to lift the hood on this thing, the thesis of a treatise I shall write one day: 1. The way the extra-constitutional two party system has corrupted our constitution's natural safeguards against majority faction (remember that greed problem? In a republic with checks and balances, this is where that greed metastasizes in the government); 2. Too many entangled alliances abroad (our founders warned us about this, too) 3. A population accustomed to bribing itself by spending the wealth of future generations. None of these are "free market" problems. The market will simply become dysfunctional in the face of these conditions, and this is what has happened. > Proper > government intervention and regulation seeks to curtail and limit the > natural greedy impulses of the financial sector. When you look at the > almost > unbelievable number and size of the rorts that are coming to light now > it is > impossible to deny that govt regulation is needed. What I am hearing is that you are a Hamiltonian of sorts, and you may be surprised to learn that I am too. It's one thing to say "regulation is needed" but that's a lot like saying "You need to be a better person". Thanks for the advice. - Bob _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
