-----Original Message----- From: brin-l-boun...@mccmedia.com [mailto:brin-l-boun...@mccmedia.com] On Behalf Of John Williams Sent: Tuesday, November 20, 2012 4:06 PM To: Killer Bs (David Brin et al) Discussion Subject: Re: Where to now?
On Tue, Nov 20, 2012 at 2:01 PM, Dan Minette <danmine...@att.net> wrote: > You change the regulations of the parasites on Wall Street... > ...You should read more. >If only it were that simple. Regulators have been trying to manage things for decades. And the suceeded for 60+ years. The repeal of Glass-Stengle (sp) had unintended consequences. One of which was giving banks a workaround of the reserve rule...by bluring the line between banks and investment houses. >Between regulatory-capture and the law of unintended consequences, creating regulations to accomplish a >certain goal is exceedingly difficult. And, when something has worked for >6 decades, be careful when you remove it. There is a reason we didn't have financial panics like 1819, 1837, 1857, 1873, 1893 between the Great Depression and the Great Recession. The regulations worked. Would you like me to compute the odds of this being random chance for you. :-) >You should think more. Certainly, I often miss things. But, I'm lucky to have brillient friends and family who I debate these issues with. It helps me find my stupid mistakes fairly quickly. Now,I know this is radical for you, you should contemplate the idea that you are not 4 sigma smarter than everyone else in the world. You would benefit by occasionally listening to other people. Dan M. _______________________________________________ http://box535.bluehost.com/mailman/listinfo/brin-l_mccmedia.com _______________________________________________ http://box535.bluehost.com/mailman/listinfo/brin-l_mccmedia.com
