Not at all. I agree that the regulatory structure is completely screwed up, but I don't think it is accurate to characterize the financial markets as unregulated. There are clearly gaps like the ones you illustrate, and they need to be dealt with. John Allison pointed out some other things that need to be re-examined. I don't agree with him on all counts, but he makes some good points about mark-to-market accounting, FDIC insurance, policy-based financial regulation that is out of alignment with good economic management, and the Federal Reserve. I'm not sure I agree with or even understand his arguments about doing away with FDIC and the Federal Reserve, but I like the fact that he has a no sacred cows approach to looking at our problems.
On Wed, Feb 25, 2009 at 8:04 AM, Gruss wrote: > > > > So if you're telling me that the problem is that I should be able to > underwrite even more with that same $100,000 then I'm guessing I > better get rollin' because your visiting hours are probably almost > over. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:289763 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
