Our financial system is crumbling this week.

[Gashouse]

Thought this would be the best place to post this gem.

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[Freed Roger]

Thought this would be the best place to post this gem.

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diggin that entourage.

[New Pagodi]

How anyone can look at this mess and see it as an argument for unregulated markets is beyond me.


edit: After looking into it some more, I was mistaken in my assumption that Hayek and this video were proposing a totally laissez-faire economic policy. Instead they are arguing for a lesser role for the Federal Reserve and against central stimulus policies and remained silent about the role regulation of industry should play. So I admit was this video is not a response to the previous post. But I still agree with its content.

[Eephus Speed]

How anyone can look at this mess and see it as an argument for unregulated markets is beyond me.

As she said, Wall Street likes the rules (or lack thereof) that got us in this mess. And both political parties are in their pockets, though 1 party is deeper than the other. I'm not as optimistic as Elizabeth Warren.

[Jocephus]

it seems to me that ms. warren is the only person who really cares about the issue...but i dont think she has much sway

[Hungary Jack]

Thought this would be the best place to post this gem.

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Brilliant!

[JackofDiamonds]

Phenomenal.

[Freed Roger]

We have a (BOA) Bank of America CC and someone suggested we should use up any points we've earned thru it, because BOA may be in new trouble.

This was news to me, and seemed like an overreaction- So searched to see what was up, and find articles about new banking regs proposed by Obama could hit BOA hard.

Has to do with ban/restricting proprietary trading. Proprietary trading, from what I read sounds like an inherent conflict of interest that is somehow legal.

Again, I'm a babe in the woods on the topics. But a general undereducated observation- its a sad sign how our economy has evolved - when gimmicks are so vital to stability/success of a major bank, maybe the entire economy. Its just another glimpse behind the curtain to see that the Great Oz is not so great.

In other BOA news - their CEO got a 19% raise.

[Freed Roger]

Thought this would be the best place to post this gem.

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In case there any GRB economist groupies - Russ Roberts is behind this video. He is an economics professor at George Mason with a popular podcast. He used to reside in St. Louis working at Wash U - and was frequent guest in P-D editorials, and KMOX.

back to sleep.

[Mary1966]

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