Dan:

You make an interesting point but I'm not sure the capitalist bankers caused the market meltdown. It seems that Fannie Mae and Freddie Mac, in the interest of promoting ownership of homes to people who were totally unqualified to assume debt of any kind, were in the forefront, led by that Fat Fool Barney Frank, practically giving away (by Government Guarantee) loans to just about anyone who cared to apply.

Do I believe in an unregulated marketplace? Yes, but only to a point. There must be checks and balances in place to prevent fraud and greed... no matter which end of the spectrum you approach the puny efforts of mankind in the business, financial and even humanitarian organizations. The government should never abdicate it's responsibility... but to over-regulate stifles investment and the economy.

It was our government that advocated more and more power to unions, allowing them to demand wages and retirement benefits which by most standards were ridiculous. Eventually, the cost of labor forced business to look elsewhere for it's labor supply, at the cost of American jobs. Now we have only a shadow of our former heavy industry.

I remember attending a seminar at TCU in the 70's and the professor was lauding the invulnerability of General Motors. It sounded good at the time... but look at GM now. An arm of the government... on the public dole. All because of government imposed labor practices... in order to curry votes.

Good jobs were always available when I participated in the 1950 through 1970 work era... but they began to dry up as more and more jobs began to be exported to China, Mexico and other third world nations. Congress did nothing but continue to hold out it's hand and expect their retirement to be worthy of princes, while they continued to vote themselves pay raise after pay raise.

Greed has been with us forever and all one need do is read the many accounts of medicaid fraud every day in our newspapers. Perpetrated by greedy "citizens" wanting something for nothing and crooked medical people attempting to bilk the system.

The taxpayers have had little to say about shouldering the burden imposed upon us by our growing national debt... except in our voting habits. Unfortunately, we have little to say about who gets to run for just about any office. All we get to do is attempt to separate the wheat from the chaff... LOL!

We need less government... but a government that chooses to keep a "thermometer in the pot."

Last edited by Dave Rice; 03/19/12 01:43 AM.